Metabolex, Inc., a Hayward, CA-based biopharmaceutical company focused on the discovery and development of proprietary new medicines for the treatment of metabolic diseases, closed an additional $8.6m financing round.
Investors include Alta Partners, Venrock, Versant Ventures, Bay City Capital, VantagePoint Venture Partners, Novo Ventures, Pictet, Next Chapter Holdings, Charter Ventures, Merlin Biomed, and Birchmere Ventures.
As stated by Harold Van Wart, Ph.D., its President and CEO, the company will use the funds to continue the development of four clinical-stage candidates.
“These funds will enable us to continue to advance our product portfolio including the development of MBX-2982, a potential new therapy for treating type 2 diabetes”, he said.
Metabolex has completed three Phase 1 trials generating promising data for MBX-2982.
FinSMEs
05/11/2009