Amylin Backs BioSeek

BioSeek Inc. of Burlingame, Calif. has raised $10 million in strategic Series C funding from Amylin Pharmaceuticals (Nasdaq: AMLN). The capital is connected to a new collaboration agreement whereby BioSeek will screen existing Amylin's drug compounds to discover useful treatments for inflammatory diseases. BioSeek had signed an earlier partnership with Amylin last year, and previously raised around $18 million in VC funding from firms like Bay City Capital, Fremont Ventures and Vanguard Ventures.