Raphael Thys
Citing rise in GLP-1 popularity, longevity biotech refocuses on developing muscle-building therapy to combat frailty.
Longevity drug developer Oisín Biotechnologies has announced the “first close” of its $15 million Series A financing round to advance its pipeline of genetic medicines designed to combat age-related diseases. The funds will be primarily used to progress the company’s therapies focused on eliminating unwanted fat cells and enhancing muscle mass to combat frailty.
The prioritization of its frailty program appears to be something of a shift in direction for Oisín, which had previously been directed towards developing a senolytic therapy for chronic kidney disease. The Seattle-based company indicated this new focus is, at least in part, due to the rise of GLP-1 agonists, driven by the runaway success of drugs like Ozempic and Wegovy.
“The appetite for therapies that can address age-related diseases has really grown, and the overwhelming popularity of GLP-1 agonists such as semaglutide and tirzepatide is spurring demand for treatments to mitigate muscle loss that frequently comes with them,” said Matthew Scholz, CEO of Oisín. “This is huge potential market for our muscle building therapy that didn’t exist a few years ago. With our focus on age-related disease and a promising platform, we believe Oisín is uniquely positioned to bring a new generation of therapies to the clinic.”
Oisín’s approach involves developing genetic medicines that target key drivers of age-related diseases. The company’s pipeline includes therapies designed to stimulate muscle growth, selectively destroy fat cells, and eliminate senescent cells, which are known to contribute to the aging process.
Central to Oisín’s approach is the Fusogenix Proteo-Lipid Vehicle (PLV), a non-viral delivery system created by Entos Pharmaceuticals. The PLV technology facilitates the delivery of DNA directly to cells throughout the body, allowing for effective treatment of age-related damage and permitting safe repeated dosing with extensive distribution beyond the liver.
The funding round was led by AbbVie Ventures, the investment arm of US pharma giant AbbVie, which will also see its representatives joining Oisín’s Board of Directors and Scientific Advisory Board.
“This first close of our Series A financing round is an important step as we advance our pipeline toward clinical trials,” said Scholz. “We couldn’t be happier to have AbbVie Ventures as our lead investor. Their deep drug development and commercialization expertise will bring significant value beyond the financing.”
Photograph: DragonImages/Envato