Kalohexis Files Confidential IPO Three Months After Endevica Bio Spinoff: Melanocortin-Obesity Biotech Advances Oral MC3R/MC4R Dual-Agonist 710GO in Phase 1 for General Obesity, With Mifomelatide MC3R/MC4R Antagonist in Phase 2 for Cancer Cachexia
Kalohexis, the melanocortin-receptor peptide biotech spun out of Endevica Bio in March 2026, filed a confidential IPO application with the SEC this week. The company advances two lead assets on the melanocortin platform: 710GO, an oral dual MC3R/MC4R agonist that entered Phase 1 testing in Q2 2026 for general obesity; and mifomelatide, a dual MC3R/MC4R antagonist in Phase 2 development for cancer cachexia (severe weight loss and muscle wasting in patients with advanced cancer). The two programs run in opposite pharmacological directions on the same receptor family: 710GO activates MC3R/MC4R to reduce food intake and produce weight loss; mifomelatide blocks MC3R/MC4R to reverse cachexia-driven weight loss. Kalohexis's Nature Communications publication (June 2026) demonstrated that dual MC3R/MC4R activation drove substantial weight loss and reduced food intake in nonhuman primates without the cardiovascular safety risks that limited earlier melanocortin drug candidates. Data was also presented at ENDO 2026. The IPO filing signals investor appetite for non-GLP-1 obesity mechanisms as the melanocortin pathway becomes the highest-profile alternative to incretin biology.