Intercept Pharmaceuticals, Inc., a New York-based clinical stage biopharmaceutical company developing novel therapeutics for chronic fibrotic and metabolic diseases, completed a $25m Preferred Series B financing by its majority shareholder Genextra S.p.A.
The company’s most advanced programs are focused on the development of modified bile acids that are selective for FXR, a nuclear receptor, and TGR5, a G protein-coupled receptor.
As stated by Dr. Mark Pruzanski, founder, President and CEO, Genextra’s backing will enable the company to advance the clinical programs while continuing to build its pipeline of novel small molecules targeting FXR, TGR5 and other bile acid receptors.
In conjunction with the financing, Dr. Lorenzo Tallarigo, CEO of Genextra and Intercept director, is assuming the role of Chairman.
FinSMEs
25/10/2010