Intarcia Therapeutics raises $5M to treat long-term conditions

Intarcia Therapeutics, a biopharma company developing therapies for hepatitis C, type 2 diabetes and obesity, has raised $5 million of an expected $15 million in debt, options, warrants and other securities. New Leaf Venture Partners, Venrock Associates and New Enterprise Associates contributed to the round, according to a filing with the SEC. The company also raised $14.5 million in May from the same investors.

Earlier this summer, Intarcia announced that a clinical study of its diabetes treatment resulted in weight loss and increased quality of life for patients.  The company plans to conduct another phase of the clinical study to confirm its results later this year. Founded in 1997, Intarcia is based in Hayward, Calif.