OrsoBio Raised $67M Series B By Ascenta Capital and Woodline Partners
California-based, OrsoBio, a biopharmaceutical startup at the clinical stage, recently announced that it has successfully raised $67 million for the development of a treatment targeting metabolic disorders and obesity. This funding round was co-led by Woodline Partners and Ascenta Capital in a Series B round, with active participation from Enavate Sciences, Longitude Capital, Samsara Biocapital, Eli Lilly and Company, and NuevaBio.
One of the key highlights of this funding round is the decision of Co-Founder of Ascenta Capital, Evan Rachlin, to join the OrsoBio Board, signifying a strong show of support and confidence in OrsoBio's mission and vision.
CEO's Vision
In an interview following the announcement, CEO of OrsoBio, MD, PhD Mani Subramanian expressed his gratitude for the funding, emphasizing that it will significantly boost OrsoBio's research and development efforts, particularly in the field of mitochondrial protonophore portfolio and expansion.
About OrsoBio
OrsoBio is a clinical-stage biopharmaceutical company dedicated to addressing obesity and related health issues such as severe dyslipidemias, type 2 diabetes, and MASH. The company operates with a strong focus on developing innovative solutions to metabolic challenges, with four key programs centered around a compound essential in the energy generation process. These programs currently in research and development include TLC-6740, TLC-1180, TLC-1235, TLC-3595, and TLC-2716.
For more information, you can visit the Adinermie website.
