GLP-1 start-up launches with $400 million

A biotechnology start-up called Kailera Therapeutics has debuted with $400 million, industry veterans at its helm, and a suite of clinical-stage drug candidates licensed from a Chinese firm. The company, based jointly in Waltham, Massachusetts, and San Diego, is developing glucagon-like peptide-1 (GLP-1) receptor agonists for weight loss and metabolic conditions. In May, Kailera bought the rights outside China to four of those—two injectables and two pills—from Jiangsu Hengrui Pharmaceuticals for an undisclosed sum. The most advanced candidate has succeeded in Phase 2 trials for weight loss and type 2 diabetes. Kailera CEO Ron Renaud previously held the same role at Cerevel Therapeutics and Translate Bio before selling them to AbbVie and Sanofi, respectively. Former Gilead Sciences CEO John Milligan is chairing Kailera’s board. Atlas Venture, Bain Capital Life Sciences, and RTW Investments co-led the start-up’s $400 million series A round.