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Intarcia 'on cloud nine' after $210m private funding for once-yearly exenatide implant

 
• By Mandy Jackson

Intarcia Therapeutics raised a whopping $210 million in private financing in concurrent transactions to fund Phase III development of its type 2 diabetes product candidate ITCA 650, which consists of the glucagon-like peptide-1 (GLP-1) receptor agonist exenatide delivered continuously by a matchstick-sized, subcutaneously-implanted osmotic pump.

Intarcia Therapeutics raised a whopping $210 million in private financing in concurrent transactions to fund Phase III development of its type 2 diabetes product candidate ITCA 650, which consists of the glucagon-like peptide-1 (GLP-1) receptor agonist exenatide delivered continuously by a matchstick-sized, subcutaneously-implanted osmotic pump.

The Hayward, California-based company's $160 million preferred stock private placement and $50 million private debt placement comprise the largest sum raised by a private biotechnology company since Jazz Pharmaceuticals raised $250 million in 2004 prior to its initial public offering in 2007 (

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