Alveus Therapeutics emerged with about $160 million in Series A capital to advance a Phase‑2‑ready obesity candidate that targets the same dual pathways as Amgen’s MariTide, plus an amylin‑targeting program. The funding positions Alveus to compete in a crowded but high‑value obesity drug market dominated by GLP‑1 and multi‑agonist therapies. The startup says its lead molecule could offer dosing advantages and differentiation on tolerability; the company plans near‑term Phase 2 initiation and highlighted potential competition with programs from Roche, Novo Nordisk and Amgen. Investors framed the round as a bet on incremental improvements in efficacy, safety and convenience to win share in an expanding weight‑loss drug market. Alveus’ financing joins a wave of obesity‑related funding and M&A that reshaped dealmaking in 2025 and sets the stage for further innovation and commercial competition in 2026.