BioAge Labs Files For $100M IPO, Becomes The New Entrant In Obesity Drugs Race

BioAge Labs Inc, a biotech focused on developing therapies for metabolic diseases, filed an SEC filing to raise up to $100 million in an initial public offering.

The company was founded in 2015 and plans to list on the Nasdaq under the symbol BIOA. BioAge Labs filed confidentially on May 31, 2024.

Goldman Sachs, Morgan Stanley, Jefferies, and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.

The company’s lead drug Azelaprag, is an orally available small molecule that has been well-tolerated in 265 individuals across eight Phase 1 clinical trials.

Also Read: Newly Listed Obesity Player Fractyl Health Shares Encouraging Preclinical Data.

In preclinical obesity models, azelaprag demonstrated the ability to more than double the weight loss induced by a glucagon-like-peptide-1 receptor (GLP-1R) agonist while restoring healthy body composition and improving muscle function.

The company plans to assess azelaprag’s potential to drive significant improvements in weight loss when combined with a GLP-1R agonist in two Phase 2 trials.

The ongoing STRIDES clinical trial will assess azelaprag in combination with tirzepatide, marketed as Zepbound by Eli Lilly And Co LLY, with topline results anticipated in the third quarter of 2025.

The second Phase 2 trial will assess azelaprag in combination with semaglutide, marketed as Wegovy by Novo Nordisk A/S NVO, with initiation expected in the first half of 2025.

BioAge also intends to initiate an insulin sensitivity proof-of-concept trial of azelaprag monotherapy in the first half of 2025 to support potential indication expansion.

The company is also developing orally available small-molecule brain-penetrant NLRP3 inhibitors for diseases driven by neuroinflammation and anticipates submitting an Investigational New Drug application for an NLRP3 inhibitor in the second half of 2025 and, if cleared, initiating a Phase 1 trial in the first half of 2026.

In February, BioAge Labs completed a Series D financing round of $170 million led by Sofinnova Investments.

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Photo by Vidmir Rais via Pixabay