Verdiva Bio Excels with Landmark Series A Funding
Deal News | Jan 09, 2025 | UK Tech Funding
Verdiva Bio, a London-based biotechnology company, has secured a substantial £333.5 million ($410 million) in its Series A funding round. The company, which was incorporated in 2024, quickly attained a valuation estimated by Dealroom to be up to $2.5 billion. Its central project is a potential rival to Novo Nordisk's immensely successful weight loss drug, Ozempic. To leverage its position, Verdiva acquired the global rights to a weight loss treatment from Sciwind Biosciences, a Chinese company. Led by CEO Khurem Farooq, former CEO of health tech company Aiolos Bio, Verdiva aims to launch a portfolio of oral and injectable treatments. Farooq is supported by a team of seasoned executives from Aiolos Bio and other major pharmaceutical companies. This funding enables Verdiva to advance its next-generation treatments, focusing on patient accessibility, improved efficacy, and sustainable weight management. The success of Ozempic highlights the lucrative market for weight loss drugs, validating investor interest in Verdiva's disruptive approach.
Sectors
- Biotechnology
- Pharmaceuticals
- Healthcare
Geography
- United Kingdom – Verdiva Bio is headquartered in London, pointing to the UK as the geographic focus of its operations and strategic development.
- China – Relevant due to the acquisition of development and commercialization rights from Chinese firm Sciwind Biosciences.
Industry
- Biotechnology – This industry is relevant as it encompasses the development of pharmaceuticals and therapeutic treatments, which is Verdiva Bio's core focus.
- Pharmaceuticals – Pertaining to the development of drugs and therapies, a key focus of Verdiva Bio's investment in weight loss and obesity treatments.
- Healthcare – Broad sector impacting public health through the development of medical treatments and innovations, with Verdiva Bio aiming to improve weight loss options.
Financials
- £333.5m – The total amount raised by Verdiva Bio in its Series A funding round.
- $410m – The equivalent amount in US dollars of the Series A funding raised by Verdiva Bio.
- $2.5bn – Estimated valuation of Verdiva Bio as per Dealroom.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Verdiva Bio | Target Company | Company | A London-based biotechnology company focused on developing weight loss and obesity treatments. |
| Sciwind Biosciences | Other Company | Company | A Chinese firm from which Verdiva Bio acquired development and commercialization rights for a weight loss treatment. |
| Novo Nordisk | Other Company | Company | A Danish company whose product, Ozempic, is the leading weight loss drug Verdiva Bio seeks to rival. |
| Khurem Farooq | Person | CEO | CEO of Verdiva Bio, formerly CEO of Aiolos Bio and Gyroscope Therapeutics. |
| Jane Hughes | Person | Former Chief Scientific Officer | Former CSO of Aiolos Bio, part of Verdiva Bio's leadership team. |
| Tapan Maniar | Person | Former Chief Business Officer | Former CBO of Aiolos Bio, part of Verdiva Bio's leadership team. |
| Ashley Taylor | Person | Former CTO | Former CTO of Aiolos Bio, part of Verdiva Bio's leadership team. |
| Mohamed Eid | Person | Chief Medical Officer | Former head of clinical development at Boehringer Ingelheim, now CMO at Verdiva Bio. |