MBX Biosciences, a Carmel, Ind.-based drug discovery company focused in rare endocrine diseases, closed a $34.6m Series A financing.
The round was led by Frazier Healthcare Partners, with participation from OrbiMed, New Enterprise Associates, Indiana Philanthropic Venture Fund (IU PhV), Indiana Seed Fund III (managed by BioCrossroads) and Twilight Venture Partners II.
The company intends to use the funds to advance its preclinical pipeline of peptide therapeutic candidates directed at clinically validated molecular targets.
Built upon the medicinal expertise and chemical technologies invented at the Indiana University laboratory of Professor Richard DiMarchi, Ph.D., co-founder and chief scientific officer, and led by Kent Hawryluk, president and chief executive officer, MBX Biosciences is a biotechnology company creating therapies for rare endocrine diseases.
In conjunction with the financing, MBX has appointed three new members to its board of directors: Patrick Heron, managing partner of Frazier Healthcare Partners; Carl Gordon, Ph.D., managing partner of OrbiMed; and Ed Mathers, general partner of New Enterprise Associates. They join Mr. Hawryluk and Dr. DiMarchi.