Aeglea raises $44M in series B

Aeglea BioTherapeutics Inc. (Austin, Texas) raised $44 million in a series B round led by existing investors Lilly Ventures and Novartis Venture Fund. Existing investor UT Horizon Fund and new investors OrbiMed; Jennison Associates; Venrock; RA Capital Management; Rock Springs Capital; Ally Bridge Group; and Cowen Investments also participated.

Next half, the company hopes to begin Phase I/II testing of lead candidate AEB1102 as an enzyme replacement therapy in patients with hyperargininemia caused by arginase I deficiency, and Phase I testing to target arginine-dependent tumors. ...