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| DiObex raises $24 million. |
| 04/18/2007 |
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| DiObex (San Francisco, Calif.) raised $24 million in a series B round led by new investor Inventages Venture Capital. Mitsui Ventures and Pac-Link BioVentures, also new investors, joined existing investors Domain Associates; Pequot Ventures; and Sofinnova Ventures. DiObex's DIO-902, a cortisol synthesis inhibitor, is expected to begin a Phase IIb trial for Type II diabetes in mid-2007. Inventages' Gunnar Weikert and Mitsui's Walter Olesiak will join DiObex's board. Additionally, current board member Barry Selick, CEO of Threshold (THLD), was appointed chairman.
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