OrphoMed raises $39M in series A

Gastrointestinal company OrphoMed Inc. (Mill Valley, Calif.) said it raised $39 million in a series A round co-led by New Enterprise Associates (NEA) and existing investor Takeda Ventures. Existing investors Pappas Capital, Relativity Healthcare Partners and the Mario Family Fund also participated.

The company's lead candidate ORP-101 is in development to treat irritable bowel syndrome with diarrhea (IBS-D). The candidate is a partial agonist of the mu opioid receptor (MOR; OPRM1) and antagonist of the kappa opioid receptor (KOR; OPRK1). OrphoMed did not respond to inquiries...