Velicept raises additional $15M in series B

Velicept Therapeutics Inc. (Malvern, Pa.) raised $15 million in a series B round extension led by Samsara BioCapital. Existing investors CDK, Fountain Healthcare, Longitude Venture Partners and Becker Ventures also participated. Becker Ventures is Velicept's founding investor.

The company intends to complete two Phase IIb trials of solabegron (GW427353), an adrenergic receptor β 3 (ADRB3) agonist, to treat overactive bladder, and conduct Phase III-enabling activities. ...