Antag Therapeutics, a biopharmaceutical company focusing on obesity treatments, has closed a €80 million Series A financing round. The funding was led by Versant Ventures and included participation from Novo Holdings, SR One, Dawn Biopharma, Pictet, Longview Ventures, and Export and Investment Fund of Denmark (EIFO). The investment will support the clinical development of AT-7687, a weekly subcutaneous antagonist of the Glucose-Dependent Insulinotropic Polypeptide Receptor (GIPR), and facilitate the expansion of Antag’s monthly injectable therapy pipeline.
GIPR antagonism is rooted in genetics. Individuals with genetic variants that reduce GIPR activity exhibit lower BMI and body fat, leading to a leaner phenotype. Antag’s lead molecule, AT-7687, builds on research by Professors Jens Holst and Mette Rosenkilde of the University of Copenhagen, both co-founders of Antag. Professor Holst, recognised for his discovery of GLP-1, also chairs the company’s scientific advisory board.
AT-7687 is designed for use with current or future obesity treatments, including GLP-1 medicines. Its dosing flexibility allows optimisation for efficacy and tolerability. Unlike antibodies conjugated to GLP-1, AT-7687 can also serve as a single agent in maintenance settings. Non-human primate studies demonstrated that AT-7687 combined with a GLP-1 delivered significant weight loss, improved glycemic control, and enhanced lipid profiles without gastrointestinal side effects.
The U.S. Food and Drug Administration recently accepted Antag’s Investigational New Drug (IND) application for AT-7687. Clinical trials will commence next year, evaluating AT-7687 as a monotherapy and in combination with GLP-1 receptor agonists in obese patients. Antag’s pipeline includes additional combinations beyond GLP-1 receptor agonists and a molecule designed for monthly administration.
“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,” said Alexander Hovard Sparre-Ulrich, Ph.D., CEO and co-founder of Antag. “Coupled with our recent IND clearance, this investment allows us to accelerate the development of AT-7687 towards important clinical milestones. We believe our first-in-class peptide’s weight loss profile and flexible dosing will be key drivers of differentiation.”
“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,” said Alex Mayweg, Ph.D., Managing Director at Versant and an Antag board member. “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.”
“Novo Holdings was the first investor in Antag and we were excited by great science and a world-renowned founder team,” said Jeroen Bakker, Partner, Seed Investments, Novo Holdings. “We are proud to close this Series A round, which brings several blue-chip investors on board. This funding marks a pivotal step in advancing Antag’s pipeline, which we are confident could play a crucial role in further improving the lives of people with obesity.”