OrsoBio closed $67M Series B round

OrsoBio, Inc. secured $67 million in an oversubscribed Series B financing. The funding round was co-led by new investors Ascenta Capital and Woodline Partners LP, with significant participation from existing investors Samsara Biocapital, Longitude Capital, Enavate Sciences, NuevaBio, and Eli Lilly and Company. As part of the financing, Evan Rachlin, MD, Co-Founder and Managing Partner of Ascenta Capital, joined OrsoBio's Board of Directors.

OrsoBio is a clinical-stage biopharmaceutical company focused on developing treatments for obesity and obesity-associated disorders, such as type 2 diabetes, metabolic dysfunction-associated steatohepatitis (MASH), and severe dyslipidemias. The company plans to use the proceeds from the Series B financing to accelerate the development of its mitochondrial protonophore portfolio. This portfolio includes TLC-6740, an oral, liver-targeted mitochondrial protonophore currently in a Phase 1b clinical trial for patients with obesity, as well as other preclinical and clinical programs aimed at addressing central pathways in energy metabolism.