Metabolex, a Hayward, Calif.-based drug company focused on diabetes and related metabolic diseases, has raised $10 million in Series C-1 funding, according to a regulatory filing. The company has now raised around $164 million in total VC since its 1998 inception. Shareholders include Alta Partners, Versant Ventures, Biotech Turnaround Fund (Netherlands), VantagePoint Venture Partners and Bay City Capital. (Source: PE Wire)