Thursday, February 14, 2013

Elcelyx Therapeutics Gets $20M

San Diego-based Elcelyx Therapeutics, a developer of treatments for weight management and obesity-related disorders, said this morning that it has raised $20M in a Series C funding round. The financing was led by GSM Fund LLC, and also included prior investors Morgenthaler Ventures, Kleiner Perkins Caufield & Byers, and Technology Partners. Elecelyx said the new funding brings its total raised to $43M. As part of the funding, Rick Barry, who manages GSM Fund LLC, has joined the company's board. Elcelyx said thef unding will go towards its product candidate for Type 2 diabetes and an over-the-counter weight loss product. More information »