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Article: Phenomix's Series B Gets $40M For Diabetes, Arthritis Programs.
- 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
Preparing to move its first two products into the clinic, Phenomix Corp. closed a $40 million Series B financing.
The privately held San Diego company has raised a total of $65.5 million since it was incorporated in 2002 based on a technology platform using whole mammalian systems to find drug discovery targets. Phenomix, which has been building a pipeline of drugs to treat metabolic syndromes and immune diseases, has lead preclinical programs in diabetes and rheumatoid arthritis.
"We're really excited about this [financing] because we're going to use the proceeds to drive our programs into the clinic," said Laura Shawver, ...