Keyword: Intarcia Therapeutics
After serving a stint at Intarcia Pharma, Novartis vet Mahesh Karande is now president and CEO at Macrolide.
Intarcia halted a pair of phase 3 trials, but they are not required for the FDA to approve its drug-device diabetes treatment.
The idea is to manage the risks inherent in R&D by placing bets on eight to 10 early-stage assets and selling those that show promise in the clinic.
Intarcia has raised $206 million in a second close of its Series EE financing, with the Bill & Melinda Gates Foundation pitching in a $50 million investment and up to $90 million in potential milestones, the company announced on Thursday.
Intarcia Therapeutics has filed for FDA approval of its osmotic mini-pump Type 2 diabetes treatment.
The third quarter saw more money being pumped into the biotech sphere through venture funds than Q2, but the number of deals were slightly down.
Intarcia closed a $215 million financing round, which gives the company a leg up as it preps for the potential approval and commercialization of its diabetes drug-delivering implant.