Antag Therapeutics thinks its glucose-dependent insulinotropic polypeptide receptor (GIPR) antagonist could carve out a space in the trendy obesity market as a complementary treatment, a sentiment now backed by 80 million euros ($84 million) from a series A financing.
Versant Ventures led the fundraising round, with founding investor Novo Holdings as well as SR One, Dawn Biopharma, Pictet, Longview Ventures and the Export and Investment Fund of Denmark all in tow, according to a Dec. 4 release. The Danish biotech will use the funds to push its lead program, dubbed AT-7687, into the clinic for phase 1 testing.
It may take a unique offering to make a significant dent in the multibillion-dollar obesity market, currently dominated by GLP-1s from Eli Lilly and Novo Nordisk, that so many are vying to enter. But Antag has some star power on its side, with GLP-1 co-discoverer Jens Holst, M.D., one of the biotech's co-founders.
Holst worked with University of Copenhagen professor Mette Rosenkilde to identify an endogenous GIPR antagonist that spawned Antag’s AT-1787, a peptide that’s designed to offer enhanced weight loss and metabolic benefits when co-administered with other obesity therapies such as GLP-1s.
Patients taking GLP-1 products alone can experience tolerability issues, loss of muscle mass and “suboptimal weight loss,” leaving a need for complementary approaches that can help sidestep the issues, the company explained in the release. Antag’s GIPR can also work on its own in the maintenance setting, according to Antag.
“Antag’s peptides will have important advantages given their ability to be used alone or optimally combined with other incretin-based agents, in both weekly or monthly formats,” Alex Mayweg, Ph.D., Versant managing director and Antag board member, said in the release. “GIP receptor antagonism is just beginning to reveal its incredible potential, both in diabetic and non-diabetic obesity, and we are pleased to be at the forefront of this developing field.”
In nonhuman studies, the candidate demonstrated “best-in-industry” weight loss when paired with a GLP-1 while improving glycemic control without gastrointestinal side effects, according to Antag. On the heels of the recent FDA acceptance of Antag's investigational new drug application for AT-1787, the biotech expects to start clinical development early next year.
“The backing of such a strong syndicate of global investors is a testament to our pioneering approach to developing novel therapies for patients with obesity,” CEO and co-founder Alexander Hovard Sparre-Ulrich, Ph.D., said in the release.
Antag’s pipeline also includes combinations outside of GLP-1s and a follow-on molecule that allows for monthly dosing. Besides obesity, the biotech is exploring drug development for cardiovascular autonomic diseases such as postural orthostatic tachycardia syndrome, according to the company's website.