Finance

$27 million in private financing supports MBX-102 insulin sensitizer trials

Published in Obesity and Diabetes Week, September 22nd, 2003

Metabolex, Inc., a privately held pharmaceutical firm that discovers and develops drugs to treat diabetes and related metabolic diseases, has raised $27 million in a private equity financing.

The financing was co-led by a previous investor, Bay City Capital, and new investors Biotech Turnaround Fund, BV, and CDP Capital Technology Ventures. Other participants in the financing included previous investor Charter Ventures and new investor KBC. CIBC World Markets was the agent for this financing.

"We are pleased to close this significant financing, which gives us the resources to move forward energetically toward building the leading drug development...

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Source: Obesity and Diabetes Week (2003-09-22)

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