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Hyperion Raises $40 Million

Hyperion Therapeutics Inc., a San Francisco-based drug company focused on gastroenterology and hepatology, has raised $40 million in second-round funding. Sofinnova Ventures led the deal, and was joined by return backers Highland Capital Partners, New Enterprise Associates and WRF Capital. The company raised a $2 million seed round late last year. www.hyperiontx.com