OrsoBio, Inc, a clinical-stage biopharmaceutical company developing treatments for obesity and obesity-associated disorders, announced the close of an oversubscribed $67 million Series B financing. The financing was co-led by new investors Ascenta Capital and Woodline Partners LP, with significant participation from existing investors Samsara Biocapital, Longitude Capital, Enavate Sciences, NuevaBio, and Eli Lilly and Company. In conjunction with the financing, Evan Rachlin, MD, Co-Founder and Managing Partner of Ascenta Capital, has joined the OrsoBio Board of Directors. Proceeds from the financing will be used to accelerate development of the Company’s mitochondrial protonophore portfolio for the treatment of obesity and associated metabolic disorders.
Obesity affects more than 40% of U.S. adults and leads to a range of adverse health outcomes including type 2 diabetes, cardiovascular disease, and metabolic dysfunction-associated steatohepatitis (MASH). Obesity is caused by an imbalance between energy intake and energy expenditure that leads to excess adiposity. Although glucagon-like peptide-1 receptor agonists (GLP-1 RAs) have revolutionized weight management by reducing caloric intake, they may cause loss of lean mass and metabolic adaptations that reduce energy expenditure.
Mitochondrial protonophores directly increase energy expenditure and may represent the ideal means to complement the metabolic benefits of GLP-1 RAs. In preclinical studies, mitochondrial protonophores developed by OrsoBio led to weight loss, preserved lean mass, and improved insulin sensitivity. Further, when these potential therapies were used in combination with a GLP-1 RA, additional weight and fat mass loss were observed, without significant effects on lean mass. These benefits were sustained with continued protonophore therapy following GLP-1 RA discontinuation.
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TLC-6740 is a novel, oral, liver-targeted mitochondrial protonophore under evaluation in a 12-week, Phase 1b clinical trial in patients living with obesity (NCT05822544). In a prior Phase 1 study in healthy subjects, TLC-6740 was safe, well tolerated, and caused dose-dependent increases in energy expenditure and improvements in lipids and markers of insulin resistance. Additional Phase 1b and Phase 2a studies of TLC-6740 in patients with obesity and type 2 diabetes, including those on a GLP-1 RA, will initiate in the coming months.
IND-enabling studies for two additional novel protonophores (TLC-1180 and TLC-1235) with unique attributes compared to TLC-6740, including greater systemic distribution, are expected to be completed in 2025. TLC-1180 is a potent, long-acting mitochondrial protonophore that is suitable for weekly oral or subcutaneous administration. TLC-1235 is a controlled-release mitochondrial protonophore (CRMP) that has shown metabolic benefits across a range of models and species.
“We welcome Ascenta Capital and Woodline Partners to OrsoBio and appreciate their support and that of our existing investors. These resources enable us to continue advancing our portfolio of mitochondrial protonophores and other potential therapies to address the burden of obesity and obesity-associated diseases,” said Mani Subramanian, MD, PhD, CEO and Founder of OrsoBio. “We believe that the future of obesity treatment will include GLP-1 RA-based combinations; this financing will enable us to build the scientific and clinical foundations to support our protonophores as components of these regimens.”
SOURCE: Businesswire