Longevity biotech to become sector’s next public company as it seeks to develop an all-oral combination treatment for obesity.
The world of publicly traded longevity companies is about get another player with the news that age-targeting biotech BioAge Labs has filed for an initial public offering in the United States. The company, which leverages aging biology to develop new therapies for metabolic diseases, plans to be listed on the NASDAQ under the symbol BIOA.
Earlier this year, BioAge raised a whopping $170 million Series D funding round before commencing a Phase 2 clinical trial of its lead candidate azelaprag in combination with Eli Lilly’s drug tirzepatide (Zepbound) for the treatment of obesity in older adults. Then, two weeks ago, the company’s appointment of former GSK CEO Jean-Pierre Garnier as Chair of its Board of Directors, led to speculation that an IPO was imminent.
Assuming the IPO goes ahead as planned, BioAge will join the likes of AgeX Therapeutics, Longeveron, and Unity Biotechnology as one of a handful of publicly traded companies focused on targeting the biology of aging.
“This is hugely exciting news,” said Longevity.Technology Editor in Chief Phil Newman. “IPOs are coming back and I’m expecting more to come from the longevity field – we’re just at the beginning of the longevity biotech market.”
Financial giants Goldman Sachs, Morgan Stanley, Jefferies and Citigroup are the underwriters for BioAge’s offering, demonstrating investors’ ongoing interest in obesity-targeting therapies following the success of GLP-1 inhibitors like Ozempic and Wegovy.
“The success of GLP-1s appears to be creating its own secondary market, with many companies already exploring opportunities in this area,” added Newman. “It’ll be interesting to see how many other complementary therapies and approaches emerge in the coming months.”
Another high-profile longevity biotech, Fauna Bio, has also made recent moves into obesity, inking a $494 million collaboration with Lilly last year.
“After BioAge, I expect that Fauna will be the next longevity biotech IPO,” added Newman, noting some of the company’s recent activity on social media. “It’s interesting that these companies are forming significant partnerships with Big Pharma, but aren’t being bought by them – it seems pharma companies are still hedging their bets a little when it comes to longevity.”
“Let’s not forget, BioAge and Fauna are just two examples. Multiple longevity biotechs are entering the clinic, and they’ll all need investment firepower for Phase 3 trials, whether through an IPO or pharma acquisition. BioAge is the start of the growth trend we’ve been waiting for. It’s happening.”
BioAge drug boosts GLP-1 effects
BioAge’s azelaprag is an oral small molecule that acts as an apelin receptor agonist, designed to replicate the metabolic benefits of exercise. The drug works via a new mechanism that complements GLP-1 inhibitors like tirzepatide and semaglutide (Ozepmic/Wegovy), mimicking the effects of a natural hormone released during exercise and targeting processes that help burn fat while preserving muscle function.
Previous trials showed its potential in improving muscle metabolism and preserving energy expenditure in older volunteers. In preclinical studies, azelaprag significantly enhanced the weight loss effects of incretin drugs.
The ongoing Phase 2 trial, which dosed its first patient in July, is conducted in collaboration with Lilly’s Chorus clinical development organization and will involve around 220 participants. The primary goal is to measure weight loss over 24 weeks, with additional exploratory measures such as body composition and glycemic control. The trial will test two oral doses of azelaprag in combination with weekly tirzepatide injections, with top-line results expected in late 2025.
“We believe combining azelaprag, an exercise mimetic, with tirzepatide, a GLP-1/GIP receptor agonist that decreases food intake, could provide a powerful pharmacological parallel to the exercise and diet interventions that form the foundation of obesity management,” said BioAge CEO Dr Kristen Fortney.
BioAge plans to launch a second Phase 2 trial in 2025, investigating a combination of azelaprag with semaglutide (Wegovy), as the company seeks to achieve its goal of developing an all-oral combination treatment for obesity. The company’s research pipeline also includes drug candidates targeting neuroinflammation driver NLRP3.
