Verva Pharmaceuticals is a clinical-stage pharmaceutical company developing novel therapies to treat type 2 diabetes and to prevent and treat obesity. Its lead product, VVP808, is a non-thiazolidinedione, non-PPAR-modulating insulin sensitiser currently in Phase 2a clinical proof-of-concept testing, with clinical data expected in April 2012. The active ingredient in VVP808 was originally approved in North America over 50 years ago for an unrelated indication; its unexpected anti-diabetic activity was identified using Verva’s proprietary GES discovery platform. In preclinical studies VVP808 demonstrated weight and fat loss and potential glucose-lowering synergy in combination with metformin. Verva’s pipeline also includes a program to elucidate the molecular target responsible for VVP808’s effect, a drug-discovery program (VVP100X) for next-generation insulin sensitizers, two obesity-focused technologies that block de novo fat formation, and the GES diabetes discovery and diagnostic platform. Financially, Verva secured an AUD 500,000 investment from the Medical Research Commercialisation Fund (MRCF) as an extension of an AUD 2 million financing approved earlier in April 2011; the MRCF funds will be provided in two milestone-based tranches to advance discovery and preclinical development of VVP100X in partnership with the Metabolic Research Unit of Deakin University.

Total raised

$1M

Funding rounds

1

Latest round

Series A

Latest activity

Oct 2011