Philadelphia-based Alveus Therapeutics, a clinical-stage biotechnology company developing obesity and metabolic disease therapies, recently raised $197 million in Series A financing. This was the second and final closing in this financing round.
“The backing of specialist healthcare investors with deep domain expertise reflects strong momentum for Alveus, driven by our differentiated portfolio, the strength of our team, and the scale of the opportunity in obesity and metabolic disease,” Raj Kannan, Alveus CEO, said. “Over the next 18 to 24 months, we plan to reach key value inflection points, including delivering a well-characterized phase 3-ready program and multiple pipeline assets entering early clinical development.”
Financing will be used to strengthen the company’s ability to conduct multiple development programs. Company goals include the clinical development of ALV‑100, a weight loss drug designed to improve quality of weight reduction and long‑term maintenance; and the advancement of ALV-200 and a oral amylin program.
Jeito Capital General Partner and Chief Commercial Officer Ksenija Pavletic will join the Alveus board of directors in conjunction with the closing of Series A financing.
Alveus has research and development operations in Denmark. In 2024, it aquired Gmax Biopharm International Ltd.’s global development and commercialization rights outside of greater China for ALV-100.