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Article: Intercept Brings In $41M To Target FXR In Liver Disease.
- 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
In its largest financing to date, Intercept Pharmaceuticals Inc. closed a $41 million equity round to advance its lead compound targeting farnesoid X receptor (FXR) in liver disease and to accelerate other drug discovery efforts.
Milan, Italy-based Genextra SpA led the financing, with participation from Balyasny Asset Management, of New York, and JAFCO Life Science Investment, the U.S. operation of Tokyo-based JAFCO Co. Ltd. Prior to this round, Intercept had raised about $4.5 million since its September 2002 inception.
The company, which recently reported results from a Phase I trial of its lead product, INT-747, was "able to ...