Intarcia raises $200 million
Intarcia Therapeutics Inc. (Boston, Mass.) raised $200 million in a series DD round led by new investor RA Capital. New investors Franklin Templeton LLC; Fred Alger Management; and Quilvest also participated along with existing investors Farallon Capital Management; Foresite Capital; New Leaf Venture Partners; and three undisclosed institutional investors. RA Capital's Peter Kolchinsky joined Intarcia's board as an observer.
In September, Intarcia expects data from the Phase III FREEDOM-1 trial evaluating ITCA 650 to treat Type II diabetes. The product is a continuous subcutaneous delivery of exenatide from an implantable Duros osmotic mini-pump. Intarcia has a license to use the Duros delivery device from Alza Corp., part of Johnson & Johnson (NYSE:JNJ). Quintiles Translational Holdings Inc. (NYSE:Q) has an undisclosed equity stake in Intarcia and is a financial and development partner for ITCA 650. Exenatide is a glucagon-like peptide-1 (GLP-1) receptor agonist. ...