Verdiva Bio announced its launch as a clinical-stage biopharmaceutical company focused on developing innovative therapies for obesity and other cardiometabolic disorders. And the company is advancing a portfolio of next-generation oral and injectable treatments with first-in-class or best-in-class potential. And Verdiva has launched with an oversubscribed Series A funding of $411 million, co-led by Forbion and General Atlantic, with additional participation from RA Capital Management, OrbiMed, Logos Capital, Lilly Asia Ventures, and LYFE Capital.
Verdiva acquired the global development and commercialization rights outside of greater China and South Korea to their industry-leading portfolio from Sciwind Biosciences in 2024. And Verdiva plans to advance the development of these next-generation therapies via a mix of monotherapy and combination programs, including:
-- A phase 2-ready, potential first-in-class, once-weekly oral GLP-1 receptor agonist
-- A potential first-in-class, once-weekly oral amylin agonist for use as monotherapy or in combination with an oral GLP-1 agonist
-- A long-acting, subcutaneous amylin agonist for use as monotherapy or in combination with a proprietary GLP-1 peptide
Dr. Mohamed Eid, MD, MSc, MHA, joins Verdiva Bio as Chief Medical Officer from Boehringer Ingelheim, where he was the Head of Clinical Development and Medical Affairs for cardiovascular, kidney, and metabolic medicines in the US. And previously, Dr. Eid held senior clinical, medical, and regulatory roles at Novo Nordisk.
The company also announced the appointment of several other leadership positions, including:
-- Dr. Jane Hughes, Chief Scientific Officer, formerly CSO of Aiolos Bio and Gyroscope Therapeutics
-- Dr. Tapan Maniar, Chief Business Officer, formerly CBO of Aiolos Bio and Principal at Bain Capital Life Sciences
-- Ashley Taylor, Chief Technology Officer, formerly CTO of Aiolos Bio and Head of Network Strategy at Roche/GenentechIn conjunction with the company's launch, Mark Pruzanski was named Chairman of the Board. As a physician and entrepreneur with over 30 years of life sciences experience, Dr. Pruzanski previously served as Chairman and CEO of Versanis Bio (acquired by Eli Lilly) and was the founder and CEO of Intercept Pharmaceuticals.
KEY QUOTES:
"People living with obesity and its complications deserve better options at each stage of their treatment journey, including oral therapies with less frequent dosing regimens, the potential for improved efficacy and tolerability, and innovative combination therapies in pursuit of healthier weight loss and, equally importantly, maintenance of metabolically healthy weight. We created Verdiva Bio to accelerate the development of differentiated medicines that address these significant unmet medical needs."
"Our most mature program has the potential to be a first-in-class, once-weekly oral treatment for obesity and weight loss maintenance that could dramatically improve patient access and affordability." (Addressing Verdiva's lead asset)
- Khurem Farooq, formerly the CEO of Aiolos Bio and Gyroscope Therapeutics, who will serve as Chief Executive Officer leading an experienced team of drug developers and biotech company builders
"We are excited by the potential of our innovative, investigational medicines. These programs represent next-generation potential against multiple targets and are anticipated to improve treatment adherence and offer a more sustainable solution for maintaining weight loss. Furthermore, by applying our clinically validated, oral delivery technology, we are confident that we can deliver highly efficacious and well tolerated therapies at markedly lower doses."
- Dr. Eid
"This significant Series A financing will be used to progress the clinical development of our existing assets as well as to expand our industry-leading cardiometabolic portfolio, and we are grateful to this top-tier investor syndicate for their support."
- Dr. Pruzanski
"We are thrilled to co-lead Verdiva's Series A financing and support its mission of transforming lives by accelerating innovation in cardiometabolic health. With a proven leadership team, a pipeline of potential next-generation oral therapies, and a clear vision for tackling some of the most pressing global health challenges, we both believe Verdiva Bio is well-positioned to deliver groundbreaking innovations and advance these promising therapies through clinical development and beyond."
- Wouter Joustra, General Partner at Forbion, and Brett Zbar, Managing Director and Global Head of Life Sciences at General Atlantic