Despite the astounding efficacy and commercial potential of incretins in obesity, many groups are trying different mechanistic approaches to the disease – if only to enable combinations. 

The company’s fresh cash will fund readouts for lead drug candidate ABC008 from a pivotal Phase II/III trial in inclusion body myositis and from Phase I/II studies in two other rare indications.

Private Company Edition: Kriya raised the first $270m of its now $430m-plus series C venture capital round in May 2022 and has raised more than $600m to date. Also, Nexo launched with $60m in series A cash, Ossium brought in $52m in series A financing and cell therapy CDMO Kincell launched with $36m.

Deal brings Lilly a Phase II activin receptor-targeting antibody that could provide another tool in battling obesity. This is Lilly’s fourth M&A transaction since 20 June.