Metacrine, Inc., a San Diego, CA-based innovative biotechnology company focused on drug development, closed a $22M Series B financing.
The round, which brought total funding to approximately $60M since it began operations in early 2015, was led by new investor New Enterprise Associates (NEA), with participation from existing investors ARCH, Polaris, venBio, and Alexandria Venture Investments. As part of the new financing, Carol Gallagher, Pharm D, Partner at NEA, will join the company’s board of directors.
Led by Ken Song, MD, President and CEO, Metacrine is a biotechnology company focused on developing innovative drugs that materially benefit patients with metabolic disease.
The company intends to use the funds to continue to advance its lead asset, MET409, an oral non-bile acid FXR agonist, into late stage IND-enabling studies.
and fund drug discovery efforts against novel targets in liver inflammation and fibrosis.
Metacrine is also advancing a FGF1 program, a first-in-class insulin sensitizer, in collaboration with Novo Nordisk.