Elixir Pharma Raises $31 Million

Elixir Pharmaceuticals Inc., a Cambridge, Mass.-based drug company focused on diabetes and age-related metabolic diseases, has raised $31 million in Series C funding. MPM Capital led the deal, and was joined by fellow return backers Arch Venture Partners and Oxford BioScience Partners. New shareholders include CDIB, Jafco Ventures and YFY Bioscience. In related news, Hercules Technology Growth Capital provided $15 million in venture debt. www.elixirpharm.com