Versant Ventures Continues Obesity Drug Investment Spree with Launch of Helicore Biopharma

Versant Ventures has made its fourth significant investment in the obesity drug development space within the past eight months, co-leading a $65 million Series A funding round for Helicore Biopharma. The California-based biotech startup is developing a novel approach to weight loss treatment by targeting glucose-dependent insulinotropic peptide (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, is a monoclonal antibody designed to block GIP ligands in digestive cells. This approach differentiates Helicore from competitors like Eli Lilly's Zepbound and Amgen's MariTide, which target GIP receptors in insulin-signaling cells. By preventing GIP secretion, Helicore aims to inhibit GIP signaling in the brain, potentially leading to increased satiety and reduced fat deposition.

The company's strategy is based on studies of individuals with genetic mutations resulting in loss of GIP activity. These people tend to have leaner body types and lower levels of certain lipids in fat-storing cells. Helicore CEO Gerrit Klaerner stated, "By targeting GIP directly, we've rapidly advanced a differentiated portfolio that may deliver superior treatment outcomes through enhanced efficacy, tolerability, and convenient dosing regimens."

Preclinical studies of HCR-188 in combination with GLP-1 therapies suggest that the anti-GIP antibody can induce "preferential loss of fat over lean mass," addressing a significant challenge in current obesity treatments. The company plans to initiate clinical trials for HCR-188 this year, with topline data expected in late 2025.

Expanding Pipeline and Future Developments

Beyond HCR-188, Helicore is developing additional assets targeting GIP, including some combined with GLP-1 therapies. The company's pipeline includes:

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

These programs aim to target specific subpopulations of people with obesity, potentially offering more personalized treatment options.

Versant's Obesity Market Strategy

Helicore joins a growing list of Versant-backed companies focused on obesity treatment:

1. Antag Therapeutics: Launched in December 2024 with a GIP receptor antagonist and backing from Novo Holdings.
2. Pep2Tango Therapeutics: Debuted in November 2024, developing next-generation peptide therapies targeting GLP-1, GIP, amylin, and calcitonin receptors.
3. SixPeaks Bio: Launched in May 2024 with $110 million for obesity R&D and a potential acquisition deal with AstraZeneca.

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

As the obesity treatment market continues to expand and evolve, Versant's strategic investments position the firm at the forefront of innovative approaches to weight loss and metabolic health.