Two years after securing a $27 million series A round to build its cyclic peptide libraries, Ra Pharmaceuticals Inc. is now seeking partners and pursuing a lead program targeting hereditary angioedema. By building drug-like properties into its diverse peptide library, the company hopes to identify stable and bioavailable cyclic peptides that are ready to move to the clinic.

In May the company emerged from stealth mode and announced it received an $8.6 million second tranche of its February 2010 series A round from lead investor New Enterprise Associates, with participation from Amgen Ventures, Morgenthaler Ventures and Novartis Venture Funds.