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Intarcia Therapeutics Raises $210 Million, NEA Participated

11/15/2012
Planning to relocate from California to the Boston area, Intarcia Therapeutics, a privately held biotechnology company, announced it has raised a total of $210 million in two separate financing deals, including $160 million in proceeds from a preferred stock private placement and $50 million in private debt. Investors in these financings included existing investors New Enterprise Associates, New Leaf Venture Partners and Venrock, as well as new investors, The Baupost Group, Farallon Capital Management and three additional, undisclosed institutional investors based in Boston and New York. Intarcia is developing a treatment of type 2 diabetes that uses a matchstick-size, miniature osmotic pump that is inserted subcutaneously and provides continuous and consistent drug therapy.

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