Phenomix raises $40M in VC

Continuing an upsurge of new investments by venture capitalists, San Diego-based Phenomix announced that it has closed on a $40 million second round. JPMorgan Partners and Delphi Ventures, both new investors, led the round. The company said that much of the money will go to advancing its candidates for metabolic syndrome and immune disease. "The financial backing from this outstanding group of investors will enable us to advance our lead drug candidates into human trials," said Laura K. Shawver, PhD, CEO and president of Phenomix.

- read this press release for more on the round