RTW Biotech Opportunities Ltd (LSE:RTWG) has invested in an obesity-focused startup that raised $400 million as it develops treatments for chronic weight management.
Kailera Therapeutics completed a 'series A' round co-led by RTW Investments, the investment manager of RTWG, alongside Atlas Venture, Bain Capital and Lyra Capital.
Kailera, based in Waltham, Massasschussets in the US, is developing "next-generation weight management therapies", RTW said.
It has a portfolio of clinical-stage injectable and oral therapies that the trust says have "demonstrated potential as best-in-class treatments for the treatment of chronic weight management".
Kailera secured the ex-China rights to four GLP-1 drugs from Jiangsu Hengrui Pharmaceuticals in May.
The most advanced program, KAI-9531, is an injectable GLP-1/GIP receptor dual agonist, akin to Eli Lilly's tirzepatide/Mounjaro.
RTW said the injectable demonstrated positive results in Phase 2 trials in obesity and type 2 diabetes in China.
Roderick Wong, managing partner and CIO at RTW Investments, said: "We are immensely proud to co-lead the Series A launch of Kailera Therapeutics, our fourth new company creation at RTW.
He said Kailera "represents a significant step forward in addressing the huge market for chronic weight management and metabolic diseases" with a pipeline and experienced management team that is "well-positioned to develop breakthrough therapies that will profoundly improve the lives of patients worldwide".