Tioga raises $10 million in series B

Tioga Pharmaceuticals Inc. (San Diego, Calif.) raised $10 million in a series B round led by new investor Thomas, McNerney & Partners. Existing investor Genesys Capital Partners also participated. Tioga's asimadoline is in the first of two planned Phase III trials to treat diarrhea-predominant irritable bowel syndrome (IBS-D), with data expected next year. The second trial is slated to start after the first trial completes. Asimadoline is a small molecule kappa opioid receptor ( OPRK1; KOR) agonist. Tioga was spun out of Merck KGaA (Xetra:MRK) with rights to asimadoline in 2005 (see BioCentury, June 27, 2005). ...