Bain, Atlas, RTW back new biotech developing obesity drugs with $400M

A new obesity biotech has entered the field — and it has $400 million from well-known life sciences investors to test investigational GLP-1 and GIP candidates licensed from Jiangsu Hengrui Pharmaceuticals.

Bain Capital Life Sciences, Atlas Venture, RTW and Lyra Capital have invested in a new biotech named Hercules CM NewCo, per an announcement this week from China-based Hengrui.

Hercules’ pipeline now includes the global, ex-China rights to HRS-7535, HRS9531 and HRS-4729, according to the release. The deal includes $110 million in upfront payments to Hengrui, according to a source familiar with the deal. Hercules, a placeholder name for the biotech, will be based in the US, the source said. The new company is a partnership between Bain, Atlas and RTW, the source added.

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