Adipo Therapeutics completed a $1.9M seed funding bridge to advance the development of its lead asset ADPO-002 for the treatment of obesity through increased energy expenditure.
Mar 07, 2024•almost 2 years ago
Amount Raised
$1.9 Million
Round Type
seed
Investors
Vision Tech PartnersIu VenturesElevate VenturesPurdue Research Foundation
Description
Adipo Therapeutics, a late-stage, preclinical biopharmaceutical company focusing on treatments for obesity and Type 2 diabetes, has completed a $1.9 million seed funding bridge, bringing its total seed funding to $4 million. The funding will be used to complete critical studies to demonstrate ADPO-002's potential in converting energy-storing white adipose tissue to energy-burning brown adipose tissue in human fat. Key investors in Adipo include Purdue Research Foundation, Elevate Ventures, IU Ventures, and VisionTech Partners.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers