Aardvark Therapeutics raises $85 million in Series C financing led by Decheng Capital to advance development of ARD-101 for the treatment of hyperphagia in patients with Prader-Willi Syndrome
Aardvark Therapeutics raises $85 million in Series C financing led by Decheng Capital to advance development of ARD-101 for the treatment of hyperphagia in patients with Prader-Willi Syndrome
05/09/24, 11:08 AM
Location
san diegoMoney raised
$85 million
Industry
manufacturing
biotechnology
Round Type
series c
Investors
Foundation For Prader Willi Research, Vickers Venture Partners, The Prader Willi Syndrome Association – Usa, Silver Arc Private Capital, Cantor Fitzgerald & Co., Lg Technology Ventures, Laurion Capital Management, Walleye Capital, Tetragon Financial Group, Sym Biosis, Surveyor Capital, Cormorant Asset Management, Decheng Capital
Aardvark Therapeutics, Inc. has announced an oversubscribed Series C financing of $85 million led by Decheng Capital, with participation from a syndicate of new and existing investors. The proceeds from the financing will be used to complete the clinical trials required for regulatory approval of Aardvark's lead asset, ARD-101, and to advance other pipeline programs.
Company Info
Location
12707 high bluff drive
san diego, california, united states
Additional Info
Aardvark Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases, inflammation, and other indications. Aardvark's lead compound, oral ARD-101, is a potent bitter taste receptor (TAS2R) pan-agonist that stimulates enteroendocrine cells of the digestive tract to release multiple gut-peptide hormones including GLP-1 and the satiety hormone Cholecystokinin (CCK), which activates gut-brain neurologic signaling to mediate hunger. ARD-101 has demonstrated an ability to reduce hunger when used alone or in combination with currently available GLP-1 therapies. Based on promising clinical data from an ongoing ARD-101 trial, the FDA has granted the drug both Orphan Drug designation and Rare Pediatric Rare Disease designation in PWS.