Summary:
Kailera Therapeutics raised $600 million in a Series B round, one of the largest biotech financings this year.
The funding was led by Bain Capital and included major investors like Royalty Pharma, Qatar's sovereign wealth fund, and Canada's pension plan.
This investment underscores continued strong interest in obesity drugs despite past clinical challenges.
The round follows Kailera's $400 million launch a year ago and recent Pfizer's acquisition of Metsera for $4.9 billion.
The financing round is one of the biggest in biotech this year
Investors announced one of the largest private financing rounds of the year for a biotech company, pouring $600 million into obesity startup Kailera Therapeutics.
Bain Capital’s private equity group led the financing, which also included Royalty Pharma, the sovereign wealth fund in Qatar, and the asset manager of Canada’s national pension plan. Several of Kailera’s founding investors also contributed additional funds.
This deal highlights the persistent heightened attention being paid to weight loss drugs, even after multiple years of activity and some clinical setbacks. Kailera’s Series B round was announced almost exactly one year after the startup launched with $400 million. It also follows closely on the heels of Pfizer’s announcement to acquire another privately held obesity drug developer, Metsera, for $4.9 billion.
Allison DeAngelis is the East Coast biotech and venture capital reporter at STAT, focusing on the intersection of scientific ideas and investment.
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