Elcelyx Secures $40 Million for Diabetes Treatment
October 02, 2015 at 06:03 AM EDT
Elcelyx Therapeutics, a San Diego-based company, raised $20 million in the first tranche of a $40 million series E round led by Sailing Capital, a Hong Kong-based private equity firm. Elcelyx expects to receive the $20 million second tranche in 2016. The funds will support a large Phase IIb, dose-ranging clinical trial to evaluate the company’s lead therapy Metformin DR. Concurrent with the financing, Liang Tsui of Sailing Capital joined Elcelyx's board. More details.... Share this with colleagues: // //