Ambrosia Biosciences is aiming to move the market beyond peptide-based obesity treatments and initiate a trial for its oral small-molecule GLP-1 therapy, backed by an oversubscribed $100 million series B round.
The investment was co-led by new investors Blue Owl Healthcare Opportunities, Redmile and Deep Track Capital, according to a March 31 release. Existing investors BVF Partners and Boulder Ventures also participated, alongside new partners Janus Henderson Investors, Samsara BioCapital and an undisclosed institutional investor.
The funding will support advancement of Ambrosia’s lead asset into a phase 1 trial. According to the company’s website, the small-molecule GLP-1 receptor agonist has best-in-class potential, with low effective dosing, 24-hour target coverage and desirable combinability characteristics.
Currently available GLP-1 treatments are peptide-based therapies rather than small molecules. However, small-molecule treatments are more easily formulated as oral therapies and may offer advantages in effectiveness and storage. Eli Lilly’s oral GLP-1 pill orforglipron, which is awaiting an FDA approval decision, is notably a small molecule and not a peptide.
Besides orforglipron, other small-molecule obesity candidates are gaining momentum. Earlier this month, Structure Therapeutics reported 16% average weight loss—approximately 39 pounds—with its oral small-molecule GLP-1 therapy as it prepares to enter a phase 3 trial.
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Boulder, Colorado-based Ambrosia will also continue developing its broader pipeline of small-molecule programs targeting G-protein coupled receptors, including GIP and amylin.
In a statement, Nick Traggis, founder and chief executive officer of Ambrosia, said that as the market moves beyond first-generation molecules, “we see a meaningful opportunity for differentiated small-molecule modulators that are designed with combinability in mind.”
