Ambrosia Biosciences secured $100 million in an oversubscribed Series B to advance its lead oral small-molecule GLP-1 candidate into Phase I trials. The financing, co-led by Blue Owl Healthcare Opportunities, Redmile, and Deep Track Capital, also supports additional programs targeting GIP and amylin. The company’s approach aims to compete in the obesity-and-cardiometabolic market by delivering orally bioavailable modulators designed for “combinability,” a strategy meant to differentiate beyond first-generation incretin compounds. Existing backers including BVF Partners and Boulder Ventures participated, with new capital framed as investor confidence in Ambrosia’s structural biology and computational chemistry platform. For the field, the round signals that investors are treating the oral incretin market as not only an approvals story but also a pipeline opportunity for next-generation small molecules with distinct combination and dosing characteristics.