PhaseBio Pharmaceuticals Inc. completed a $25 million Series B financing in December 2010 to advance its diabetes and cardiovascular drug candidates, but on June 5, the privately held biotech revealed that it had raised an additional $23 million from its existing investors.
It called this funding a third tranche of its Series B, bring the round’s total to $48.4 million, and said the money would be used to fund, among other things,...
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