Kailera Therapeutics, backed by Atlas Venture, Bain Capital, RTW Investments, and Lyra Capital, emerges with a $400M Series A to develop GLP-1 drugs for obesity and metabolic conditions. Acquired from Jiangsu Hengrui Pharmaceuticals, KAI-9531, targeting GLP-1 and GIP receptors, is in clinical trials for obesity and Type 2 diabetes. Led by CEO Ron Renaud and board chair John Milligan, Kailera aims to advance next-generation treatments for chronic weight management.