BioAge Labs Files for $100 Million IPO to Advance Obesity Treatment Candidate Azelaprag

IPO Filing:
BioAge Labs has filed for an initial public offering (IPO) to raise $100 million to fund its clinical trials for obesity and insulin sensitivity treatments.

Lead Candidate:
The company's lead drug candidate, Azelaprag, is an oral apelin receptor agonist currently in Phase 2 trials for the treatment of obesity in combination with GLP-1R drugs.

Partnerships:
BioAge is partnered with Eli Lilly for a Phase 2 trial of Azelaprag with Tirzepatide and plans another trial with Novo Nordisk's Semaglutide in the first half of 2025.

Funding Use:
The IPO funds will be used to advance Azelaprag past its Phase III STRIDES study and into a registrational Phase III trial, as well as to start a proof-of-concept study in insulin sensitivity.

Market Opportunity:
The global market for obesity treatment is expected to grow from $14 billion in 2021 to over $33 billion by 2030, with a CAGR of 10.1%.

Investor Support:
BioAge has received significant investment from high-profile institutional venture capital and private equity firms, including Andreessen Horowitz, Khosla Ventures, and Kaiser Permanente.