Kailera Therapeutics secured $600 million in a Series B financing led by Bain Capital Private Equity to fund global Phase 3 trials of KAI‑9531, a weekly injectable that targets the same pathways as Eli Lilly’s Zepbound. The capital will also support the company’s broader metabolic pipeline and preparations for large-scale regulatory and commercial activities. The round underscores continued investor appetite for obesity therapeutics despite recent market volatility. Kailera plans to initiate global Phase 3 testing before year-end and scale manufacturing and commercial planning in parallel. Industry observers noted the size of the financing places Kailera among the best‑funded private obesity biotechs this year and signals sustained competition in the weight‑loss drug sector. Backers include private equity, sovereign wealth and established biotech investors; analysts flagged the financing as critical to executing global trials and contending with incumbents and emerging competitors. Kailera’s program will be watched closely as payers and regulators weigh long‑term safety, access, and cost in the obesity market.