The financing was led by GSM Fund, a fund dedicated to this single investment and managed by Rick Barry, who has been elected to the Elcelyx board of directors.
All previous investors also participated in the round, including Morgenthaler Ventures, Kleiner Perkins Caufield & Byers, and Technology Partners.
Elcelyx has raised a total of $43m since it was founded in 2010 and advanced its two first-in-class Gut Sensory Modulators (GSM) for the treatment of diabetes and weight loss into late-stage clinical development.
Source: Elcelyx
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