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Elcelyx Continues Work On Weight Loss Supplement With $7 Mil. Financing

The Series B funding enables the San Diego biotech to advance a weight loss supplement to the cusp of commercialization. Elcelyx, also moving a delayed-release formulation of diabetes drug metformin into mid-stage trials, so far has received some $20 million in venture capital.

Biotechnology firm Elcelyx Therapeutics Inc.received a $7 million extension of its Series B financing in part to continue developing its Lovidia nutritional supplement for weight loss.

The San Diego firm Aug. 13 also announced the hiring of former Biogen Inc. and Mpex Pharmaceuticals Inc....

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