London-based Verdiva Bio has launched with a $411 million Series A as venture capital appetite for weight-loss startups intensifies.
Forbion and General Atlantic led the round, which is one of Europe’s largest-ever VC deals in the biotech and pharmaceutical space, according to PitchBook data. Other investors included OrbiMed, RA Capital Management and Lilly Asia Ventures—the corporate venture arm of Eli Lilly, which released weight loss drug Zepbound in 2023.
Verdiva develops treatments for obesity and cardiometabolic disorders. Its main drug is an oral GLP-1 similar to Ozempic or Wegovy, but to be taken only once a week instead of daily. The drug is ready for Phase 2 clinical trials. It is designed to cost less than rivals and be a more accessible option for people looking to lose weight.
The company’s Series A coincides with a surge in demand for anti-obesity medications. According to healthcare analytics group IQVIA, global spending on AOMs surpassed $30 billion for the first time in 2024. Morningstar estimates that the GLP-1 drug market could reach more than $200 billion in annual sales by 2031.
The weight loss market has so far been dominated by big pharmaceutical companies, including Novo Nordisk and Amgen. However, more startups are launching as competitors and VCs are jumping at the chance to fund them. Investments in the space surged last year, with global funding reaching $1.3 billion, up over 90% from 2023.
Last year saw a handful of mega-rounds in the space including New York-based Metsera’s $350 million fundraise in August and California-headquartered BioAge Labs’ $170 million Series D in February.
With this Series A, Verdiva said its main priority will be the clinical development of its existing pipeline, which comprises assets licensed last year from Chinese biotech company Sciwind Biosciences.
Pictured are two of the weight loss drugs now on the market.
Featured image by UCG/Getty Images
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