Elcelyx Therapeutics develops therapeutic agents that modulate the neuro‑enteroendocrine system of the gut to amplify hormone release involved in glucose regulation. Its lead candidate, Metformin Delayed Release (Metformin DR), releases metformin in the gut to reduce systemic bioavailability while maintaining glucose‑lowering efficacy and improving tolerability. In two prior Phase 2 studies Metformin DR lowered glucose and was well tolerated in patients with type 2 diabetes. The company has received FDA guidance on late‑stage development of Metformin DR and plans a large Phase 2b dose‑ranging trial followed by two pivotal Phase 3 studies, one of which will include patients with moderate renal impairment. Elcelyx is led by president and CEO Alain Baron, M.D. The company intends to use newly raised funds to start the planned Phase 2b trial enrolling approximately 550 patients. Elcelyx Therapeutics develops products for weight management and obesity-related metabolic disorders, advancing two Gut Sensory Modulators (GSM) into late-stage clinical development. Its pharmaceutical candidate NewMet is a delayed-release formulation of generic metformin. Lovidia is a proprietary mix of GRAS-designated dietary ingredients targeted to the consumer market for OTC weight-loss and metabolic-health applications and as a food additive to promote satiety and lower glycemic index. The company plans to use the new capital to continue development of NewMet and Lovidia. Elcelyx is led by Alain Baron, M.D., President and CEO and was founded in 2010. The company is based in San Diego, CA. Elcelyx Therapeutics, founded in 2010 and led by President and CEO Alain Baron, is a San Diego-based developer focused on weight-loss and diabetes treatments. The company has advanced two product candidates, Lovidia and NewMet, into late-stage clinical development. Lovidia is being developed for use in nutritional supplement, food and beverage applications; NewMet is targeted at patients with Type 2 diabetes. Elcelyx is pursuing private equity financing to support its clinical programs. It raised an additional $4M in a planned Series B extension to fund ongoing and planned clinical trials. The company intends to use the proceeds specifically for clinical trials of its proprietary candidates. According to a regulatory filing, Elcelyx Therapeutics has raised $1.2M in a funding round. The filing indicates the firm was seeking to raise $2.2M in the round. The financing includes Morgenthaler Ventures. The company is headed by Alain Baron, former Senior Vice President of Research at Amylin Pharmaceuticals, who is now an entrepreneur-in-residence at Morgenthaler. Morgenthaler partner Ralph Christofferson also holds a board seat. Details on the funding and the company’s programs have not been announced.

Total raised

$65M

Funding rounds

4

Latest round

Series E

Latest activity

Oct 2015