San Diego biotech Metacrine, which is working on drugs for liver, metabolic and gastrointestinal diseases, last week closed a $65 million Series C round.
Founded in 2015, Metacrine has now raised $125 million in financing, including $22 million last December.
Proceeds from the Series C round will go toward advancing a pipeline. Metacrine’s lead candidate, MET409, targets a receptor linked to non-alcoholic steatohepatitis, or NASH, a debilitating condition for which no approved therapies exist today.
A Phase 1 clinical study of MET409 is slated to begin this month.
The Series C round was led by Venrock Healthcare Partners and includes new investors Franklin Templeton Investments, Deerfield Management, Arrowmark Partners, Invus, Lilly Asia Ventures, Vivo Capital and other undisclosed investors. Existing investors Arch Venture Partners, venBio, Polaris Partners, NEA, and Alexandria Venture Investments participated as well.
Ken Song, the company’s CEO, was previously the CEO of Ariosa Diagnostics. Metacrine’s executive chairman is serial entrepreneur Richard Heyman.