Metabolex raises $44 million

Metabolic company Metabolex (Hayward, Calif.) raised $44 million in a third close of a private round led by Alta Partners, bringing to $75 million the total amount raised in the financing. New investors Venrock; Versant; and Novo A/S joined existing investors Bay City Capital; KBC; Birchmere; and VantagePoint. The company will use the funds to begin a second Phase II trial of its MBX-102 insulin sensitizer to treat diabetes. ...