Prolynx bags $70 million to advance obesity candidates; names CEO
California, USA-based biotech Prolynx, which is developing a next-generation portfolio of ultra-long-acting medicines for obesity and related metabolic conditions, has announced the closing of a $70 million Series A financing and the appointment of industry veteran Chris Boulton as chief executive (CEO).
The financing was co-led by 5AM Ventures and OrbiMed, along with Monograph Capital. The capital will be used to advance Prolynx’ proprietary pipeline of extended-duration incretin and non-incretin therapies designed to enable monthly and quarterly dosing towards investigational new drug (IND) enablement and clinical proof-of-concept.
The company’s approach to half-life extension utilizes a proprietary technology that has previously demonstrated clinical proof-of-concept in oncology, providing a de-risked foundation for the development of optimized, ultra-long-acting peptide therapeutics specifically engineered for obesity and related metabolic diseases.
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