Friday, January 12, 2007 6:00:00 AM PDT | VentureDeal Staff
PALO ALTO, CA -- InteKrin Therapeutics announced the receipt of $23 million in new financing to fund continued development of its Type II diabetes treatment INT131. The round was led by Sofinnova Ventures and included Orbimed Advisors, Vivo Ventures, Asset Management and Sears Capital Management. InteKrin was founded in 2005 to develop treatments for diabetes, obesity and metabolic disorders by in-licensing high potential critical stage products from large biotech and pharmaceutical companies. The company then adds value by carrying them through critical clinical stages.
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