Diartis Pharmaceuticals Receives Initial Funding
Diartis Pharmaceuticals, Inc., a Mountain View, CA-based newly formed biotechnology company that focuses on developing therapeutics for the treatment of metabolic diseases, has received initial funding.
Investors include Index Ventures, Amunix and private investors.
The company intends to use the funds to continue development of a clinical-stage diabetes drug candidate, VRS-859 (exenatide-XTEN) for type 2 diabetes mellitus (T2DM). The candidate was acquired by Versartis, Inc.
Diartis is pursuing the development of new therapeutic proteins utilizing the Amunix novel half-life extension XTEN technology, which is a hydrophilic sequence of natural amino acids and is expressed as a fusion protein with a therapeutically active peptide or protein.
New compounds developed by the company using XTEN are expected to provide improved therapeutic outcomes such as enhanced efficacy/compliance, fewer side effects, prolonged half-life (up to monthly dosing), as well as low-cost production and enhanced stability.