Phenomix Finds $40M Series B Funding

San Diego-based biotech firm Phenomix has closed a $40M second round of funding. The drug discovery firm is developing drugs focused on immune disease and metabolic syndrome. The company's leading drug candidate is targeted at the treatment of rheumatoid arthritis. Funding was led by JPMorgan Partners and Delphi Ventures, and included new investor Baker Brothers Investments. Existing investors also participated, and include Alta Partners, Sofinnova Ventures, Bay City Capital, CMEA Ventures, GBS Venture Partners and Novartis BioVenture Fund. More information »