Ambrosia Biosciences announced on April 1 that it has raised $100 million in a Series B funding round, which the company plans to use for the development of small-molecule GLP-1 pills aimed at treating obesity.
The funding will support a Phase 1 clinical study of Ambrosia’s lead drug candidate and further advance its pipeline targeting cardiometabolic pathways, including GIP and amylin. The company said this approach could mark a new stage in obesity treatments by focusing on small molecules rather than peptides, which are currently dominant in the field.
The Series B round was co-led by Blue Owl Healthcare Opportunities, Redmile, and Deep Track Capital. Other investors included BVF Partners, Boulder Ventures, Samsara BioCapital, and Janus Henderson Investors. According to Ambrosia’s announcement, the investment will help accelerate research into next-generation oral drugs for weight loss.
Currently available GLP-1 therapies such as Novo Nordisk’s semaglutide (marketed as Ozempic and Wegovy) and Eli Lilly’s tirzepatide (Mounjaro and Zepbound) are peptide-based drugs. While effective, these peptides generally have lower metabolic stability compared to small molecules. Small-molecule drugs can be easier to manufacture and are often better suited for oral administration.
Recent developments include the U.S. Food and Drug Administration's approval of an oral version of Novo Nordisk's Wegovy in December 2025. Eli Lilly's orforglipron—a small molecule weight loss pill—is also under regulatory review with a decision expected soon. Ambrosia aims not only to follow these advances but also improve upon them through AI-driven molecule design intended for lower dosing requirements and improved drug combinations.
Chief Executive Officer Nick Traggis said in Tuesday’s statement: “As the field moves beyond first-generation molecules, we see a meaningful opportunity for differentiated small molecule modulators that are designed with combinability in mind.”
Other companies such as Structure Therapeutics are also pursuing similar approaches with their own candidates like aleniglipron. Recent mid-stage trial results showed promising weight reduction outcomes compared to existing therapies.
