Finance Watch: Rivus Raises $132m In Series B Cash To Fund Obesity Drug Trials

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• By Mandy Jackson
  
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VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.

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Rivus Pharmaceuticals Inc. already had its lead Controlled Metabolic Accelerator (CMA), known as HU6, in a Phase IIa clinical trial last year when it raised $35m in series A venture capital. Now, with data in hand from that study in patients with obesity, the company has closed a $132m series B round to advance HU6 in the clinic and its pipeline of additional CMA candidates across a range of cardio-metabolic conditions.

Charlottesville, VA-based Rivus announced the series B financing on 22 September, just 14 months after its series A round. (Also...

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