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Phenomix Raises $55 Million

Phenomix Corp., a San Diego-based drug developer, has raised $55 million in Series C funding. Nomura Phase4 Ventures led the deal, and was joined by return backers JPMorgan Partners, Delphi Ventures, Baker Brothers, Alta Partners, Sofinnova Ventures, Bay City Capital, CMEA Ventures, Novartis BioVenture Fund and GBS Venture Partners. Phenomix has now raised around $125 million in total VC funding since its 2001 founding. Its most advanced programs include a Phase II inhibitor of the protease DPP4 for treatment of Type 2 diabetes, and a preclinical program inhibiting NS3 protease for treatment of hepatitis C.www.phenomixcorp.com