San Diego biotech Metacrine, which is working on drugs for liver and metabolic diseases, has closed a $22 million Series B financing round.
The proceeds will go toward developing a drug called MET409, which will begin human studies in the first half of 2018. Proceeds will also be used to fund drug discovery efforts against novel targets in liver inflammation and fibrosis, and the company is advancing an insulin sensitizer in collaboration with Novo Nordisk, based in Denmark.
Metacrine has raised approximately $60 million since it began operations in early 2015.
As part of the new financing, Carol Gallagher will join the company’s board of directors. She is a partner with New Enterprise Associates, which led the funding round, along with participation from existing investors ARCH, Polaris, venBio, and Alexandria Venture Investments.