BioPharma Dive September 25, 2024
The offering supports development of a medicine the company originally tested as a way to preserve muscle mass in the elderly.
BioAge Labs has raised $198 million in an initial public offering, the company announced Wednesday, capitalizing on intense investor interest in drugs that can promote weight loss.
BioAge, which is evaluating a medicine that’s meant to boost the effects of popular obesity drugs known as GLP-1 agonists, sold 11 million shares at $18 apiece in the offering. Those numbers exceed projections set by the company last week, and were accrued shortly after the company had already hiked the size of its offering by 40%.
The offering validates a strategic shift by BioAge to one of the hottest...
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