Versanis, With $70m Series A, To Advance Abandoned Novartis Drug In Obesity
The failed muscle-adding antibody could offer a superior profile in obesity by reducing body fat composition while increasing lean mass, the firm believes.
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With US FDA approval of Wegovy for obesity, Novo Nordisk prices the weekly injectable at par with its other obesity brand Saxenda. Ramping up sales will require patient, clinician and payer education, the company says.
Former Novartis CEO Jimenez co-founded Aditum with former NIBR president Mark Fishman; they raised $133m and are launching Tempero Bio. Also, Atea, Galecto and SQZ went public along with one more health care SPAC, Royalty Pharma upped its Vertex royalty revenues and Mirati’s FOPO raised $926.3m.
Bimagrumab failed in a pivotal late stage clinical trial last year for an orphan muscle wasting disorder. Novartis now wants to assess its potential in obesity, an area not exactly renowned for its pharmaceutical successes.