Courage Therapeutics Completes Seed Financing to Advance Its Melanocortin Obesity and Diseases of Wasting Drug Programs

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ANN ARBOR, Mich.--(BUSINESS WIRE)--Nov 3, 2025--

Courage Therapeutics, a company developing novel treatments for genetic and dietary obesity and diseases of wasting, today announced it has closed funding led by Arsenal Bridge Ventures, a venture capital firm specializing in high-impact, early-stage biotech companies, and joined by existing investors. This brings the company’s funding to over $11 million.

“The vast majority of patients with genetic and syndromic obesity are not receiving adequate treatment. There is an urgent need for transformative medications that can significantly reduce severe obesity and manage the overwhelming, pathological hunger these patients face,” said CEO Giovanni Ferrara. “This round underscores our investors' confidence in our vision and potential. We are committed to judiciously utilizing these funds to advance our research, forge new partnerships, and strengthen our team, to expedite advancement of multiple product candidates into the clinic.”

Courage Therapeutics’ development programs aim to address obesity and diseases of wasting by targeting the central melanocortin (MC) system’s neural circuits in the brain. Founder Dr. Roger Cone of the University of Michigan is a pioneer in researching and understanding the role of the MC system, with work spanning more than three decades. Cone first isolated the melanocortin receptor genes and then validated their role in the regulation of body weight. Since then, he has been investigating their biological properties and targeting them to harness their potential for clinical applications.

Cone is also investigating how combining MC4R drugs with GLP-1s can offer a more comprehensive approach to weight management. “By targeting two different pathways—the hypothalamus through a MC receptor and the brainstem via a GLP-1 receptor—we can develop a more effective treatment for those struggling with dietary obesity,” explained Cone.

“This investment highlights the significant patient benefits that innovative obesity and metabolism management therapies bring,” said Isaac Barchas, Managing Director at Arsenal Bridge Ventures. “Together, Arsenal Bridge Ventures and Courage Therapeutics are driving forward medical solutions to enhance health outcomes for obesity patients who are currently underserved and undertreated.”

About Courage Therapeutics:

Courage Therapeutics is a pre-clinical stage biopharmaceutical company focused on providing patients with new modalities for treating obesity and diseases of wasting. Helmed by CEO Giovanni Ferrara, the company brings together an experienced team of scientists and industry experts focusing on developing scientific discoveries regarding the brain’s response to energy signals from the body. Founder Dr. Roger Cone, the Mary Sue Coleman Director of the Life Sciences Institute and the Vice Provost for the Biosciences Initiative at the University of Michigan, spearheaded the company’s licensing agreement with the University to develop treatments based on a portfolio of intellectual property jointly invented with Courage. The Courage medicinal chemistry team has pending patents on multiple compounds with highly selective and potent MC3R and MC4R activity.

About Arsenal Bridge Ventures:

Arsenal Bridge Ventures advances high-impact, differentiated biotechnology innovations grounded in AI and new technologies originating from mid-continent universities where commercial and venture networks are less saturated and well-positioned for future growth and evolution. The firm sources opportunities through relationships with the innovators themselves, while building and scaling companies through leadership recruitment, capital deployment and syndication strategies that optimize asset value.

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CONTACT: Danielle Clark-Brown

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA MICHIGAN

INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION RESEARCH PHARMACEUTICAL SCIENCE BIOTECHNOLOGY

SOURCE: Courage Therapeutics

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PUB: 11/03/2025 09:00 AM/DISC: 11/03/2025 09:01 AM

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