Overview

• Bain Capital Private Equity led the Series B, joined by Adage, CPP Investments, Invus, Janus Henderson, Perseverance, QIA, Royalty Pharma, Surveyor Capital, accounts advised by T. Rowe Price, and existing backers Atlas Venture, Bain Capital Life Sciences, RTW Investments, and Sirona Capital.
• Kailera says it plans to begin a global Phase 3 program for KAI-9531 by the end of 2025 after completing FDA end-of-Phase 2 meetings, though one report places the start by the end of 2026.
• Proceeds will also advance KAI-7535, an oral small-molecule GLP-1 receptor agonist, into global trials and support earlier programs including the tri-agonist KAI-4729 and an oral tablet formulation of KAI-9531.
• In a China Phase 2 study with Jiangsu Hengrui, KAI-9531 produced a 22.8% mean weight loss at 36 weeks, a result reported as comparing favorably with tirzepatide’s 36-week performance.
• Andrew Kaplan of Bain Capital Private Equity will join the board, and the financing is expected to be fully funded at closing, which remains subject to customary conditions.