Ambrosia Biosciences raised a $100 million oversubscribed Series B to advance its oral obesity pipeline, including moving its lead oral small-molecule GLP-1 candidate into Phase I trials. The financing was co-led by Blue Owl Healthcare Opportunities, Redmile, and Deep Track Capital, with participation from BVF Partners and Boulder Ventures. The company’s platform is designed for orally bioavailable modulators targeting GLP-1 and additional cardiometabolic targets including GIP and amylin, positioning Ambrosia for combination strategies as oral incretin competition expands. With major GLP-1 blockbusters now approved in pill form, the round underscores investor focus on next-generation oral differentiation and combinability.