Pinnacle Medicines, a two-year-old biotech startup, has raised $89 million from investors in the United States and China. The company focuses on developing oral versions of peptide-based drugs, following the success of treatments like Novo Nordisk's oral version of Wegovy.
The funding comes as pharmaceutical companies increasingly seek to convert injectable peptide drugs into pill form, which could improve patient compliance and expand market opportunities. Oral peptides represent a significant technical challenge in drug development, as these molecules typically break down in the digestive system.