3rd Oct 2024 12:59
(Alliance News) - RTW Biotech Opportunities Ltd on Thursday announced the launch of Kailera Therapeutics, a new investee company, with a series A financing round.
The investment fund managed by RTW Investments LP that specialises in the life sciences sector noted its new portfolio company Kailera Therapeutics has launched a USD400 million series A financing round, co-led by RTW Investments.
Kailera Therapeutics is a Massachusetts, US-based obesity-focused therapy company, developing a broad, advanced and differentiated portfolio of clinical-stage injectable and oral therapies for chronic weight management. Its most advanced program, KAI-9531, is an injectable GLP-1/GIP receptor dual agonist that demonstrated positive results in phase 2 trials in obesity and type 2 diabetes in China.
Alongside other investment vehicles managed by RTW Investments, RTW Biotech Opportunities co-led the series A financing with Atlas Venture Ltd and Bain Capital LP Life Sciences, with participation from Lyra Capital. Proceeds from funding will be used to advance Kailera Therapeutics's portfolio of therapies for obesity-related conditions.
Roderick Wong, managing partner & chief information officer at RTW Investments, said: "We are immensely proud to co-lead the Series A launch of Kailera Therapeutics, our fourth new company creation at RTW. Kailera represents a significant step forward in addressing the huge market for chronic weight management and metabolic diseases. With its clinically-validated pipeline and experienced management team, we are confident that Kailera is well-positioned to develop breakthrough therapies that will profoundly improve the lives of patients worldwide. We look forward to supporting them on this transformative journey."
Shares in RTW Biotech Opportunities were up 1.3% at USD1.53 each in London on Thursday afternoon.
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.