Versant Ventures Backs New Obesity-Focused Biotech Helicore Biopharma with $65M Series A

Versant Ventures continues its aggressive push into the obesity treatment space with a $65 million Series A investment in Helicore Biopharma, a California-based biotech developing novel approaches to weight loss and metabolic disorders. This marks Versant's fourth investment in an obesity-focused startup within the past eight months, underscoring the venture capital firm's confidence in the growing market for innovative weight loss therapies.

Helicore's Novel Approach to Targeting GIP

Helicore's lead candidate, HCR-188, is a monoclonal antibody designed to directly bind and inhibit glucose-dependent insulinotropic peptide (GIP), a gut hormone associated with hunger and blood sugar regulation. This approach differentiates Helicore from other players in the field, such as Eli Lilly's Zepbound, which activates both GIP and GLP-1 receptors.

"By antagonizing GIP in the periphery and blocking transit to the central nervous system, Helicore's compounds may uniquely prevent GIP signaling in the brain, potentially restoring leptin sensitivity that may support increased satiety as well as reduced consumption and fat deposition," the company explained in a statement.

Preclinical studies of HCR-188 in combination with GLP-1 agonists have shown promising results, suggesting a greater loss of fat than lean body mass—a key goal for next-generation obesity treatments.

Pipeline and Development Plans

In addition to HCR-188, Helicore's pipeline includes:

1. HCR-488: An incretin conjugate slated to begin preclinical studies as a monthly weight loss option in the second half of 2025.
2. HCR-588: Another potential incretin conjugate program expected to enter preclinical development in 2026.

The company plans to leverage Versant's Ridgeline discovery engine in Switzerland to support its protein engineering efforts.

Investment Details and Industry Context

The $65 million Series A round was co-led by Versant Ventures and OrbiMed, with participation from Longitude Capital and Wellington Management. This substantial investment reflects growing interest in novel obesity treatments, particularly those targeting GIP signaling pathways.

Carlo Rizzuto, Ph.D., managing director at Versant and Helicore board member, commented on the potential of the company's approach: "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. This opens the door to reaching patient populations overlooked by therapies that focus solely on weight reduction as the primary marker of improvement."

The obesity treatment landscape has seen increased activity and investment in recent years, with Versant backing other startups such as Antag Therapeutics, Pep2Tango Therapeutics, and SixPeaks Bio. This trend underscores the pharmaceutical industry's recognition of obesity as a significant health concern and the need for more effective, targeted therapies.