QL Biopharm Closes $73 Million Series C to Advance Monthly Zovaglutide GLP-1 Receptor Agonist Through Phase 3 HORIZON-1 Obesity Trial in China
QL Biopharm (Beijing, Zhitai Biopharmaceutical) closed a Series C financing round of over 500 million Chinese yuan (approximately $73 million) led by OrbiMed with participation from Qiming Venture Partners and other investors, per September 3, 2026 disclosure. Proceeds will support continued development of the company's lead candidate zovaglutide (ZT002, a monthly subcutaneous injectable GLP-1 receptor agonist peptide currently in Phase 3 HORIZON-1 trial for weight management in adults with overweight or obesity in China). Phase 2 data at EASD 2025 documented up to 13.8% weight loss at Week 24 with monthly dosing. Zovaglutide is positioned as a potential first-to-market monthly GLP-1 peptide (as opposed to the antibody-peptide conjugate MariTide from Amgen or the lipidated small-molecule approaches at Pfizer/Metsera). The financing extends the H2 2026 obesity-peptide financing wave that has included Parabilis's $670M IPO, Metsera-related asset transitions, and Superluminal's $60M Series B.