Marcadia Raises $15 Million

Marcadia Biotech, an Indianapolis-based drug company focused on diabetes and obesity, has raised $15 million in Series A funding. Frazier Healthcare Ventures seed backer 5AM Ventures co-led the deal, and were joined by other seed backer Twilight Venture Partners. As part of the deal, Frazier general partner Patrick Heron will join the Marcadia board of directors. Marcadia has a licensing agreement with Indiana University Research and Technology Corp. and a sponsored research agreement with Indiana University. Its founders are former executives from Eli Lilly and Guidant Corp.