BioAge Labs Raises $170 Million in Series D Funding Round Led by Sofinnova Investments

In a press release issued today, BioAge Labs, a clinical-stage biotechnology company focusing on developing new therapies for obesity and metabolic diseases using aging biology, has successfully completed an oversubscribed Series D financing round of $170 million. The round was led by Sofinnova Investments, with the participation of new investors such as Longitude Capital, RA Capital, Cormorant Asset Management, RTW Investments, SV Health Investors, OrbiMed Advisors, Sands Capital, Pivotal bioVenture Partners, Osage University Partners, Lilly Ventures, and Amgen Ventures, along with existing investor Andreessen Horowitz (a16z) Bio + Health. 

As part of this funding, James Healy, M.D., Ph.D., from Sofinnova Investments, will assume the role of Chairman of the Board at BioAge, while Patrick Enright, managing director at Longitude Capital, will join as Board Director. The funds raised will be utilized to support the Phase 2 clinical development of BioAge’s lead compound, azelaprag, an oral apelin receptor agonist, in combination with Lilly’s Zepbound, also known as Tirzepatide and Mounjaro, and other incretins for the treatment of obesity. 

The company plans to commence studies with Zepbound in collaboration with Eli Lilly’s Chorus organization by mid-2024. Azelaprag has shown potential in promoting muscle metabolism, increasing energy expenditure, and preventing muscle atrophy in healthy older volunteers at bedrest during a Phase 1b trial. In preclinical studies, it demonstrated the ability to double the weight loss achieved with incretin drugs, as well as improve body composition and muscle function.

Kristen Fortney, Ph.D., CEO and co-founder of BioAge, expressed the company's enthusiasm in partnering with top-tier investors and pharma companies and stated that the funding will support key clinical milestones and data readouts for azelaprag in obesity. Dr. Healy also expressed excitement in supporting BioAge’s commitment to developing therapies for metabolic diseases, emphasizing the important scientific and clinical groundwork laid by the management team.