Verdiva, obesity treatment firm, launches with $411m

Khurem Farooq

London-based Verdiva Bio Limited announced its launch as a clinical-stage biopharmaceutical company focused on developing innovative therapies for obesity and other cardiometabolic disorders.

The company is advancing a portfolio of next-generation oral and injectable treatments “with first-in-class or best-in-class potential.”

Verdiva said it launches with an oversubscribed Series A financing of $411 million, co-led by Forbion and General Atlantic, with additional participation from RA Capital Management, OrbiMed, Logos Capital, Lilly Asia Ventures, and LYFE Capital.

Khurem Farooq, formerly CEO of Aiolos Bio and Gyroscope Therapeutics, will serve as Chief Executive Officer at Verdiva Bio.

“People living with obesity and its complications deserve better options at each stage of their treatment journey, including oral therapies with less frequent dosing regimens, the potential for improved efficacy and tolerability, and innovative combination therapies in pursuit of healthier weight loss and, equally importantly, maintenance of metabolically healthy weight,” said Farooq.

“We created Verdiva Bio to accelerate the development of differentiated medicines that address these significant unmet medical needs …

“Our most mature program has the potential to be a first-in-class, once-weekly oral treatment for obesity and weight loss maintenance that could dramatically improve patient access and affordability.”

Mohamed Eid joins Verdiva Bio as Chief Medical Officer from Boehringer Ingelheim, where he was Head of Clinical Development and Medical Affairs for cardiovascular, kidney, and metabolic medicines in the US. Previously, Eid held senior clinical, medical, and regulatory roles at Novo Nordisk.

Verdiva Bio announced the appointment of several other leadership positions, including:

  • Jane Hughes, Chief Scientific Officer, formerly CSO of Aiolos Bio and Gyroscope Therapeutics
  • Tapan Maniar, Chief Business Officer, formerly CBO of Aiolos Bio and Principal at Bain Capital Life Sciences
  • Ashley Taylor, Chief Technology Officer, formerly CTO of Aiolos Bio and Head of Network Strategy at Roche/Genentech

Mark Pruzanski was named Chairman of the Board. A physician and entrepreneur with over 30 years of life sciences experience, Pruzanski previously served as Chairman and CEO of Versanis Bio (acquired by Eli Lilly) and was the founder and CEO of Intercept Pharmaceuticals.