Phenomix Raises $40 Million

Phenomix Raises $40 Million
Venture capital Drug discovery startup Phenomix Corp. raised $40 million in a second round of venture capital to begin clinical trials on two compounds developed using proprietary mouse gene technology spun out of the Genomics Institution of the Novartis Research Foundation three years ago. The deal adds J.P. Morgan Partners of San Francisco and Delphi Ventures of Menlo Park, Calif., as co-lead investors, and Baker Brothers Investments of New York as a third new investor, to a syndicate of top-tier life sciences investors made up of Alta Partners, Sofinnova Ventures, CMEA Ventures and Bay City Capital, all of San Francisco; GBS Venture Partners of Australia and Novartis BioVenture Fund of San Diego.
The Deal