BioAge Labs (“BioAge”), a pioneering biotechnology firm dedicated to advancing novel treatments for obesity and metabolic diseases by exploring the biology of aging, has successfully closed an oversubscribed Series D financing round, raising $170 million. The investment round was led by Sofinnova Investments, with significant contributions from new investors such as Longitude Capital, RA Capital, Cormorant Asset Management, and several other notable firms, including Lilly Ventures and Amgen Ventures. The round also saw participation from existing investors like Andreessen Horowitz (a16z) Bio + Health.

In a strategic move accompanying the financing, James Healy, M.D., Ph.D., Managing Partner at Sofinnova Investments, has been appointed as Chairman of the Board, and Patrick Enright, Managing Director at Longitude Capital, will join the Board of Directors at BioAge.

The influx of funds is earmarked for the Phase 2 clinical trials of BioAge's lead compound, azelaprag, an innovative oral apelin receptor agonist. This compound is set to be tested in combination with Lilly’s Zepbound (tirzepatide) and other incretins as a promising treatment for obesity. The collaborative trials with Eli Lilly’s Chorus organization are scheduled to commence in mid-2024. Azelaprag has shown potential not only to significantly enhance weight loss and improve body composition but also to bolster muscle metabolism and energy expenditure, as evidenced in a Phase 1b trial and preclinical studies.

Kristen Fortney, Ph.D., CEO and co-founder of BioAge, expressed enthusiasm about the collaboration with leading investors and pharmaceutical entities, emphasizing the opportunity to achieve crucial clinical milestones and further develop their metabolic aging pipeline. The funding is seen as a critical support in exploring novel treatments for metabolic diseases, leveraging BioAge’s discovery platform.

Dr. Healy shared his excitement about joining forces with BioAge, highlighting the company's scientific and clinical foundations in the azelaprag program. The collaboration aims to fast-track the development of transformative therapies for obesity and other metabolic conditions, potentially improving the quality of life for patients worldwide.