Metabolex raises $32M in fourth round

Hayward, CA-based Metabolex has raised $32 million in a Series D financing and plans to use the money to accelerate clinical testing of MBX-8025, a treatment for dyslipidemia. Additionally, the company will further the development of several preclinical programs. The round was led by MPM BioEquities and included contributions from new investors AllianceBernstein, Deerfield Management and T. Rowe Price as well as existing investors. Last year, Johnson & Johnson bought into Metabolex's program for diabetes and other metabolic conditions in a rich collaboration pact. Metabolex has two diabetes drugs in development along with programs in obesity and blood fat disorders.

- see the release on the round