Aardvark Therapeutics, Inc., a San Diego, CA-based clinical stage biopharmaceutical company, completed a $29m Series B financing.
The round was led by Sorrento Therapeutics with participation from existing investors including Vickers Venture Partners, Premier Partners, BNH Investment, and Korea Omega. The Foundation for Prader-Willi Research also participated as an investor in the Series B.
Led by CEO, Tien Lee, M.D., Aardvark Therapeutics is a clinical stage biopharmaceutical company focused on developing and commercializing novel small molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases.
The funds raised will be deployed to:
- (1) complete three Phase 2 clinical trials of the company’s lead compound, ARD-101, a first-in-class small molecule TAS2R (bitter taste receptor) pan-agonist; and
- (2) to advance several potential additional formulations for major indications. ARD-101 demonstrated safety in Phase 1 human trials. Further, ARD-101 has been shown to convey beneficial effects in animal models of obesity as well as hyperphagia, diabetes, hyperlipidemia, and inflammation.
Founded in 2017, the company has multiple other programs in its pipeline and has already partnered one to Sorrento Therapeutics, the lead investor in the Series B round.