Finance Watch: Rivus Raises $132m In Series B Cash To Fund Obesity Drug Trials

Theravance Buys Out GSK, Repurchases Additional Stock

VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.

Finance Watch Image — • Source: Shutterstock

Rivus Pharmaceuticals Inc. already had its lead Controlled Metabolic Accelerator (CMA), known as HU6, in a Phase IIa clinical trial last year when it raised $35m in series A venture capital. Now, with data in hand from that study in patients with obesity, the company has closed a $132m series B round to advance HU6 in the clinic and its pipeline of additional CMA candidates across a range of cardio-metabolic conditions.

Charlottesville, VA-based Rivus announced the series B financing on 22 September, just 14 months after its series A round. (Also see "Finance Watch: $135m In Venture Capital Will Fund Amylyx’s Late-Stage ALS Drug" - Scrip, 22 July, 2021

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

Start your 7-day free trial
Explore trusted news, analysis, and insights
Access comprehensive global coverage
Enjoy instant access – no credit card required

Start Free Trial

Already a subscriber?

Affimed’s ASCO ‘Hail Mary’ As Survival Chances Slim

20 May 2025

• By Kevin Grogan

The German biotech has been forced into insolvency and NASDAQ suspension.

Hengrui Set For Biggest Biopharma IPO So Far This Year

15 May 2025

• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

13 May 2025

• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

13 May 2025

• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

First Blood-Based Test Cleared For Alzheimer’s Boosts Anti-Amyloid Drugs

19 May 2025

• By Mandy Jackson

The US FDA approval of Fujirebio’s Lumipulse should boost access to medicines like Eisai’s Leqembi and Lilly’s Kisunla; the firms are praising patients’ access to earlier diagnoses.