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

May 09, 2024•over 1 year ago

Amount Raised

$85 Million

Round Type

series c

San DiegoManufacturingBiotechnology

Investors

Foundation For Prader Willi ResearchVickers Venture PartnersThe Prader Willi Syndrome Association – UsaSilver Arc Private CapitalCantor Fitzgerald & Co.Lg Technology VenturesLaurion Capital ManagementWalleye CapitalTetragon Financial GroupSym BiosisSurveyor CapitalCormorant Asset ManagementDecheng Capital

Description

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 Information

Company

Aardvark Therapeutics

Location

12707 HIGH BLUFF DRIVE

San Diego, California, United States

About

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.

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