Thursday, May 9, 2024

Aardvark Therapeutics Raises $85M

San Diego-based Aardvark Therapeutics announced today that it has raised $85M in a Series C funding round. The funding was led by Decheng Capital and also included Cormorant Asset Management, Surveyor Capital, SymBiosis, Tetragon Financial Group, Walleye Capital, Laurion Capital Management, LG Technology Ventures, Cantor Fitzgerald & Co, Silver Arc Private Capital, The Prader-Willi Syndrome Association – USA, Vickers Venture Partners and the Foundation for Prader-Willi Research. The company said that Decheng Capital's Victor Tong, Jr. will join the board as part of the funding round. Aarvark's lead compound is ARD-101, for the treatment of hyperphagia in patients with Prader-Willi Syndrome. Aardvark Therapeutics is led by CEO Tien Lee, M.D.