Intarcia raises $206M, teams with Gates for HIV prophylaxis

Intarcia Therapeutics Inc. (Boston, Mass.) raised $206 million in the second close of a series EE round. The company expects a third and final close next quarter. Intarcia announced the $215 million first close in September (see BioCentury Extra, Sept. 15).

The Bill & Melinda Gates Foundation invested $50 million in equity as part of the financing and partnered with Intarcia to develop an HIV prophylaxis that will combine Intarcia's implantable Medici delivery system with an HIV treatment. The foundation also pledged up to $90 million in non-dilutive grants tied to milestones in the HIV program. The grants are not part of the series EE round...