BioCentury
ARTICLE | Financial News

Intarcia raises $215M, expects more next quarter

September 15, 2016 7:00 AM UTC

Diabetes company Intarcia Therapeutics Inc. (Boston, Mass.) raised $215 million in the first close of a series EE round. The company expects to raise more money next quarter in a second, larger close that would bring the round's total to $500-$600 million.

The first close was led by Baillie Gifford, and included other new, undisclosed institutional investors, family offices including the Pritzker family, and Luxin Venture Capital Group Co. Ltd. (Shanghai:600783). Existing investors Baupost Group, Fidelity, Foresite Capital and RA Capital also participated. Morgan Stanley was the placement agent. ...