InteKrin raises $23 million

InteKrin (Palo Alto, Calif.) raised $23 million in a venture round led by new investor Sofinnova Ventures. OrbiMed Advisors and Vivo also joined existing investors Asset Management and Sears Capital Management in the round. InteKrin's INT131 (formerly AMG 131) has completed Phase IIa testing for Type II diabetes. The company licensed rights to the PPAR gamma selective modulator and partial agonist from Amgen (AMGN) on Wednesday (See BioCentury Extra, Wednesday, Jan. 10, 2007). ...