Versant Ventures Backs Fourth Obesity Startup, Investing in Helicore Biopharma's Novel GIP-Blocking Antibody

Versant Ventures has made its fourth investment in an obesity-focused startup within the past eight months, co-leading a $65 million Series A funding round for Helicore Biopharma. The company is developing a novel antibody drug that blocks gastric inhibitory polypeptide (GIP), a gut hormone associated with hunger and blood sugar regulation.

Helicore's Innovative Approach to Obesity Treatment

Helicore's lead drug candidate, HCR-188, distinguishes itself from existing obesity treatments by targeting GIP ligands in digestive cells rather than GIP receptors. This approach contrasts with drugs like Eli Lilly's Zepbound and Amgen's MariTide, which focus on GIP receptors in cells responsible for insulin release signaling.

The company's strategy is based on studies of individuals with genetic mutations resulting in reduced GIP activity. These individuals tend to have leaner body types and lower levels of certain lipids in fat-storing cells. By blocking GIP secretion, Helicore aims to prevent GIP signaling in the brain, potentially leading to increased satiety during meals and enhanced metabolic activity for weight reduction.

Carlo Rizzuto, managing director at Versant and a Helicore board member, stated, "Helicore's novel approach is backed by robust evidence and could offer cardiometabolic benefits alongside quality weight loss and improved tolerability when combined with GLP-1."

The GIP Debate in Obesity Research

The investment in Helicore highlights an ongoing debate in obesity research regarding whether to block or stimulate GIP. While Helicore's approach involves blocking GIP, other treatments take different stances:

• Eli Lilly's Zepbound stimulates GIP, with some scientists hypothesizing that this could desensitize the GIP-receiving protein on pancreatic cells, effectively deactivating it.
• Amgen's MariTide blocks GIP while stimulating GLP-1, another hormone central to obesity treatment.

Helicore has tested HCR-188 in preclinical models in combination with GLP-1 agonists. The company's pipeline also includes GIP antibody conjugates designed to target GLP-1 and other pathways potentially beneficial for weight loss.

Investment Details and Company Leadership

The $65 million Series A round was co-led by Versant Ventures and Orbimed, with additional investments from Longitude Capital and Wellington. This marks Versant's fourth investment in an obesity startup since May 2023, following investments in Antag Therapeutics, Pep2Tango Therapeutics, and SixPeaks Bio.

Helicore Biopharma is led by CEO Gerrit Klaerner, who brings significant experience in the pharmaceutical industry. Klaerner previously co-founded Illypsa, a kidney drug company acquired by Amgen, and Relypsa, which was later acquired by Galenica.

As the obesity treatment landscape continues to evolve, Helicore's unique approach to GIP inhibition represents a promising new direction in the field, attracting significant attention and investment from major players in the pharmaceutical venture capital space.