JPMorgan Invests in Weight-Loss Boom with $500 Million Fund

Reported 7 months ago

JPMorgan Chase & Co.'s asset-management arm has raised over $500 million for a biotech venture-capital fund focusing on weight-loss drugs, particularly GLP-1s, which are in high demand and currently dominated by two companies. The fund, managed by Steve Squinto and Gaurav Gupta, has already made five investments, including leading a $100 million financing round for Enlaza Therapeutics. JPMorgan views the weight-loss industry as a potential area for significant growth and innovation beyond the current market players.

Source: YAHOO

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