Elcelyx Therapeutics Garners $40,000,000 Series E Funding Round
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=82da1d5c-2652-49b4-abfd-84e9145b68c5 - Date
10/2/2015 - Company Name
Elcelyx Therapeutics - Mailing Address
11995 El Camino Real San Diego, CA 92130 USA - Company Description
Elcelyx Therapeutics of San Diego is a stealth mode diabetes related biotechnology company. - Website
http://www.elcelyx.com - Transaction Type
Venture Equity - Transaction Amount
$40,000,000 - Transaction Round
Series E - Proceeds Purposes
Proceeds from new investors Sailing Capital, certain investment funds for which Clough Capital Partners, L.P. serves as investment manager, and all existing investors, support the immediate initiation of a large Phase 2b, dose-ranging clinical trial to evaluate Metformin DR. An oral agent, Metformin DR is under development to fill the unmet needs of the 40 percent of type 2 diabetes patients who cannot currently use metformin due to contraindications or poor tolerability. - M&A Terms
- Venture Investor
Sailing Capital - Venture Investor
Morgenthaler Ventures - Venture Investor
Kleiner Perkins Caufield & Byers - Venture Investor
Technology Partners - Venture Investor
GSM Fund
