The round was led by the American venture capital firm Versant Ventures with participation from Novo Holdings, SR One, Dawn Biopharma, Pictet, Long Ventures, and the Export and Investment Fund of Denmark.
AT-7687 is a novel, glucose-dependent insulinotropic polypeptide receptor (GIPR) antagonist designed for co-administration with current or future obesity treatments, such as GLP-1 therapies. The drug was developed to complement other obesity management therapies to counteract some of the problems that current treatments have, including “tolerability issues, loss of muscle mass, and suboptimal weight loss” and to better induce weight loss and bring metabolic benefits.
Some people have natural GIPR variants in which the activity of the GIPR is reduced. This results in a lower body mass index (BMI) and decreased body fat, making these individuals leaner than people with normal GIPR function.
AT-7687 is designed to be administered subcutaneously, once weekly, either alone to maintain weight loss after treatment, or as a co-treatment with other obesity therapies. In preclinical studies with non-human primates, AT-7687 in combination with a GLP-1 drug, resulted in “best-in-industry” weight loss, as well as improved glycemic control and lipid profiles, without gastrointestinal side effects.
In October 2024, Antag Therapeutics was cleared by the FDA to start clinical trials with AT-7687. The phase 1 study will also observe the effects of the drug together with semaglutide, which is the active compound in the weight loss drugs Ozempic and Wegovy.
Commenting on the latest fundraising round, CEO and Co-Founder of Antag, Alexander Hovard Sparre-Ulrich, said in a press statement: “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. 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.”
Alex Mayweg, Managing Director at Versant and Antag board member, added: “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. 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.”