Fierce Biotech May 22, 2024
The obesity business is cutthroat these days. AstraZeneca is taking no chances on missing out on the next big thing. The U.K. pharma is one of the first investors in a new biotech emerging today with $110 million to develop new therapies for healthy weight loss.
Based in Switzerland, the aptly named SixPeaks Bio broke stealth Wednesday, announcing $30 million in series A funding. The financing round was led by founding investor Versant Ventures, a venture capital company with $5.5 billion under management for biotech company building.
AstraZeneca also participated in the series A, but beyond that, has committed $80 million in capital, both upfront and in near-term payments. That extra bump of support provides the U.K. pharma with an...
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