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Article: Metabolex Raises $32M Series D For Metabolic Disease Trials.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Metabolex Inc. can check off yet another item on the list of exit strategy prerequisites.
The Hayward, Calif.-based company already boasted a late-stage lead product, a validating big pharma partnership and a robust pipeline. With the close of a $32 million Series D financing, Metabolex now has a solid cash balance as well.
"This is a company we believe can go public or look at other strategic exits in the next 18 months," said Kurt von Emster, general partner with MPM BioEquities, which led the round.
Several crossover funds joined MPM as new investors in the Series D, namely AllianceBernstein, Deerfield Management and T. ...