All in for Type II

A potentially de-risked product for a giant indication was enough to get investors in diabetes company Intarcia Therapeutics Inc. to pony up $200 million in the largest venture round in the past five quarters. The company expects the proceeds from the series DD round, along with funds from planned ex-U.S. licensing for lead compound ITCA 650, will be enough to get the very-long acting Type II product to market.

Last week's round was led by new investor RA Capital. New investors Franklin Templeton LLC; Fred Alger Management; and Quilvest also participated along with existing investors Farallon Capital Management; Foresite Capital; New Leaf Venture Partners; and three undisclosed institutional investors...