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Novartis Backs Radius

Radius Health, a Cambridge, Mass.-based, has raised $10 million in new Series C funding from Novartis (via a fund managed by MPM Capital). The infusion is related to a larger strategic deal in which it received an option to obtain an exclusive global license (except for Japan) to developer and commercialize Radius' osteoporosis drug candidate. Radius has raised $91.5 million in total VC funding since its 2003 inception, from firms like MPM Capital (which manages the fund through which Novartis invested), HealthCare Ventures, Oxford Bioscience Partners, MPM Capital, Bellevue Asset Management and the Welcome Trust.