LONDON: As weight-loss drug Wegovy gains popularity but comes with significant side effects, several US and European biotech companies are racing to develop alternatives that promise similar weight-loss results without the accompanying nausea.
A recent report by investment bank Stifel reveals that over a dozen small, privately-owned companies are working on drugs that function differently from Wegovy, which mimics the gut hormone GLP-1 to reduce appetite and leads to significant weight loss.
Patients like Rebecca Vogt, who experienced severe nausea and vomiting while taking Wegovy, are hopeful for an alternative that could deliver weight loss without the debilitating side effects. Vogt, a customer service representative from Buffalo, New York, regained the weight she had lost after discontinuing the drug due to its unbearable side effects.
The surge in interest in the obesity market, driven by Wegovy’s success, has put these biotech companies in a favorable position to raise funds and develop their drugs. The market is estimated to be worth as much as $100 billion by the end of the decade. Executives from the companies developing alternative weight-loss drugs believe that the increased attention will help propel their drug development prospects.
Effective Drugs for Weight-Loss
Companies such as Rivus Pharmaceuticals in the United States are exploring novel approaches. Rivus is developing a drug that disrupts the body’s mitochondria, impacting energy consumption and promoting weight loss even with the same food intake. Another company, Glyscend Therapeutics, has shown promising results in early trials, achieving weight loss without significant nausea.
While major pharmaceutical companies like Novo Nordisk and Eli Lilly are also working on the next generation of weight-loss drugs, they are still grappling with the issue of nausea. However, some investors believe there is room for multiple approaches, allowing individuals and their physicians to determine the best option for their needs.
The biotech companies mentioned in the report, such as Rivus, Glyscend Therapeutics, Antag Therapeutics, and Aphaia Pharma, are hopeful that the growing interest in the obesity market will facilitate future funding, potentially through initial public offerings (IPOs) or partnerships with larger pharmaceutical firms.
With the obesity market continuing to expand, the development of weight-loss drugs with reduced side effects is highly anticipated. Analysts predict that the industry could see a significant increase in the number of biotech companies working in this area over the next decade.
