Elcelyx debuts

Elcelyx Therapeutics Inc. (San Diego, Calif.) made its public debut and said it raised $4 million of a planned $7 million extension to a series B round. The company raised $14 million in the series B round in 2011. Existing investors Morgenthaler Ventures; Kleiner Perkins Caufield & Byers; and Technology Partners participated. In 2010, the company was founded and raised $2 million in a series A round from Morgenthaler Ventures. Elcelyx's New Met, a delayed-release formulation of metformin, is in Phase II testing to treat renally impaired Type II diabetes. The company is also developing dietary supplement Lovidia for weight loss. ...