Cebix Gains $30.9M For Diabetes Treatments

La Jolla-based Cebix, a biopharmaceutcials company that is developing treatments for complications due to diabetes, said this week that it has raised $30.9M in a Series B investment round. The funding came from its existing investors, which include InterWest, Sofinnova Ventures and Thomas, McNerney & Partners. Cebix said the funding comes after the completion of a Phase 1/2 trial of its lead drug for treating peripheral neuropathy. The firm is now planning to launch a Phase 2b trial in early Q2 2013. More information »