Antag Therapeutics Secures €80M Series A Funding

Antag Therapeutics, an innovative biopharmaceutical company focused on developing treatments for obesity, has announced the successful completion of an €80 million Series A funding round. The round was led by Versant Ventures, with additional investments from Novo Holdings, SR One, Dawn Biopharma, Pictet, Longview Ventures, and the Export and Investment Fund of Denmark.

The funds will be used to advance the clinical development of AT-7687, a new subcutaneous treatment designed to be administered once a week. AT-7687 targets the Glucose-Dependent Insulinotropic Polypeptide Receptor (GIPR) and aims to treat obesity by complementing existing GLP-1-based therapies. These therapies, while effective, can sometimes lead to issues such as muscle loss and gastrointestinal side effects. AT-7687 is designed to mitigate these problems and offer superior weight loss and metabolic benefits.

The genetic research supporting GIPR antagonism reveals that individuals with genetic variants that reduce GIPR activity tend to have lower body mass indexes and body fat percentages. This finding has been instrumental in the development of AT-7687, which was pioneered by University of Copenhagen professors Jens Holst and Mette Rosenkilde. Both are co-founders of Antag and bring extensive expertise in incretin biology. Holst is also the chairman of Antag's scientific advisory board.

Preclinical studies in non-human primates have shown promising results, with AT-7687 combined with a GLP-1 agonist producing significant weight loss and improving glycemic control and lipid profiles. These benefits were achieved without causing gastrointestinal side effects, highlighting the potential of AT-7687 as both a standalone therapy and in combination with other obesity treatments.

The U.S. Food and Drug Administration (FDA) has accepted Antag's Investigational New Drug (IND) application for AT-7687, paving the way for clinical trials to begin early next year. These trials will evaluate the drug's efficacy as a monotherapy and in combination with GLP-1 receptor agonists in obese patients. Antag is also working on additional combinations beyond GLP-1 receptor agonists and developing a follow-on molecule for monthly administration.

Alexander Hovard Sparre-Ulrich, CEO and co-founder of Antag, expressed enthusiasm about the investment, stating that it will accelerate the development of AT-7687. He emphasized the drug's unique weight loss profile and flexible dosing as key differentiators in the market.

Alex Mayweg, Managing Director at Versant Ventures and an Antag board member, highlighted the advantages of Antag's peptides, which can be used alone or in combination with other incretin-based agents. He believes that GIP receptor antagonism has significant potential for treating both diabetic and non-diabetic obesity.

Jeroen Bakker, Partner at Novo Holdings, noted that the investment in Antag was driven by the company's strong scientific foundation and experienced founding team. He expressed confidence that the Series A funding will be crucial in advancing Antag's pipeline and improving obesity treatment outcomes.