Monday, August 13, 2012

Elcelyx Therapeutics Adds $4M

San Diego-based Elcelyx Therapeutics, a developer of biopharmaceuticals aimed at both the weight loss and diabetes area, said this morning that it has raised $4M of a $7M extension of its Series B equity funding round. The new funding came from Kleiner Perkins Caufield & Byers and Technology Partners. The company said that it has now raised a total of $20M in funding. The new funds will go towards clinical trials for its two product candidates. Elcelyx is working on compounds which address the sense of fullness that patients feel in their gut. The company is aiming at both developing a nutritional supplement as well as a product specifically for patients with Type 2 diabetes. More information »

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