Elcelyx Therapeutics, a San Diego, CA-based developer of products for weight loss and the treatment of diabetes and obesity, has raised an additional $4m of a planned $7m extension of its Series B private equity funding.
Backers include existing investors Morgenthaler Ventures, Kleiner Perkins Caufield & Byers and Technology Partners.
Founded in 2010 and led by Alain Baron, M.D., President and CEO, Elcelyx advanced two product candidates for weight loss and the treatment of diabetes and obesity into late-stage clinical development.
The company intends to use the capital for clinical trials for proprietary product candidates Lovidia(TM) for use in nutritional supplement, food and beverage applications, and NewMet(TM) for patients with Type 2 diabetes.
FinSMEs
13/08/2012