Elcelyx Therapeutics Garners $40,000,000 Series E Funding Round

  • Feed Type
  • 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

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