NGM Biopharmaceuticals, Inc., a South San Francisco, California-based company dedicated to the discovery and development of transformational medicines, has closed the first tranche of a $51m Series B round of financing.
The round included The Column Group, Tichenor Ventures, LLC, Prospect Venture Partners, Rho Ventures and other new and Series A investors.
In conjunction with the funding, NGM also announced the appointment of McHenry (Mac) T. Tichenor, Jr., Managing Member of Tichenor Ventures, to the its board of directors.
NGM has created a proprietary discovery platform aimed at identifying and validating novel targets and factors that impact the underlying etiology of metabolic diseases. The company is generating a pipeline of new drug candidates as novel treatments for diseases such as diabetes, obesity, muscle wasting and cardiovascular disease.