# Aardvark Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/aardvark-therapeutics

- Industry: Biotechnology
- Headquarters: San Diego, US
- Website: www.aardvarktherapeutics.com/
- Total disclosed funding: $129M
- Latest round: Series C (May 1, 2024)
- Investors on record: 17

## About

Founded in 2017 by co-founders Andreas Niethammer, and Tien Lee and based in California, US, Aardvark Therapeutics, Inc. focuses on small molecule therapeutics for obesity and rare genetic metabolic disorders. In May 2024, Aardvark Therapeutics, Inc. raised USD 85 million in Series C funding led by investor Decheng Capital, with participation from returning investor Vickers Venture Partners, Walleye Capital, Tetragon Financial Group, SymBiosis Capital Management, Surveyor Capital, Cormorant Asset Management, Laurion Capital Management, LG Technology Ventures, Cantor Fitzgerald & Co., SilverArc Capital, Prader-Willi Syndrome Association, and Foundation for Prader-Willi Research also participated in the round.   Aardvark Therapeutics' flagship product, ARD-101, is an oral drug designed to have low systemic exposure while providing systemic effects through gut peptide hormone secretion and gut-brain signalling. This first-in-class drug activates homeostatic pathways to treat metabolic and inflammatory diseases. Preclinical studies and initial clinical trials have demonstrated ARD-101's broad safety window and efficacy in various disease models. The company continues to advance ARD-101 through clinical development, aiming to address unmet medical needs in these therapeutic areas.   The company will use the May 2024 funding to support the completion of its clinical trials. In February 2025, Aardvark Therapeutics, Inc. raised USD 87.61 million in an IPO, selling 5.88 million shares at USD 16 per share, within the expected USD 16-18 range, on the Nasdaq Global Select Market under the ticker symbol "AARD." Aardvark Therapeutics, Inc. has granted the underwriters a 30-day option to purchase up to an additional 883,200 shares of common stock as part of the listing. Following the transaction, Decheng Capital retained a 12.5% minority stake and Vickers Venture Partners retained a 12.4 minority stake in Aardvark Therapeutics, Inc., respectively. The company plans to utilize the February 2025 funding for clinical-stage biopharmaceutical development and advancement of small-molecule therapeutics targeting metabolic diseases.

## Funding rounds

- Series C, May 1, 2024, $85M — Vickers Venture Partners, Decheng Capital, Laurion Capital Management, Cantor Fitzgerald & Co., Tetragon Financial Group, Cormorant Asset Management, Walleye Capital, Surveyor Capital, LG Technology Ventures, SilverArc Capital, SymBiosis Capital Management, Prader-Willi Syndrome Association, Foundation for Prader-Willi Research
- Series B, Aug 5, 2021, $29M — Vickers Venture Partners, Premier Partners, BNH Investment, Korea Omega Investment Corp., Sorrento Therapeutics, Inc.
- Series A, Nov 29, 2019, $15M — Vickers Venture Partners, Premier Partners, BNH Investment, Korea Omega Investment Corp.

## Investors

- Vickers Venture Partners (https://capitalatlas.ai/funds/vickers-venture-partners) — Series A, Series B, Series C
- Premier Partners (https://capitalatlas.ai/funds/premier-partners) — Series A, Series B
- BNH Investment (https://capitalatlas.ai/funds/bnh-investment) — Series A, Series B
- Korea Omega Investment Corp. (https://capitalatlas.ai/funds/korea-omega-investment-corp) — Series A, Series B
- Sorrento Therapeutics, Inc. — Series B
- Decheng Capital (https://capitalatlas.ai/funds/decheng-capital) — Series C
- Laurion Capital Management — Series C
- Cantor Fitzgerald & Co. — Series C
- Tetragon Financial Group — Series C
- Cormorant Asset Management (https://capitalatlas.ai/funds/cormorant-asset-management) — Series C
- Walleye Capital — Series C
- Surveyor Capital — Series C
- LG Technology Ventures (https://capitalatlas.ai/funds/lg-technology-ventures) — Series C
- SilverArc Capital (https://capitalatlas.ai/funds/silverarc-capital) — Series C
- SymBiosis Capital Management (https://capitalatlas.ai/funds/symbiosis-capital-management) — Series C
- Prader-Willi Syndrome Association — Series C
- Foundation for Prader-Willi Research — Series C