Startups
UK Biotech Startup Takes Aim at Weight-Loss Leaders Novo, Lilly
- Weekly pill in development would compete with GLP-1 injections
- Verdiva, led by biotech veteran, is funded with $411 million
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A UK biotechnology startup is entering the crowded obesity drug market, armed with $411 million and a promising next-generation weight-loss pill.
Verdiva Bio Ltd, led by former Aiolos Bio Inc. Chief Executive Officer Khurem Farooq, faces a mammoth task — breaking into a market dominated by Zepbound maker Eli Lilly & Co. and Novo Nordisk A/S, owner of Wegovy and Ozempic. Each has multiple successor drugs in late-stage development.