MBX Biosciences Raises $34.6 Million to Advance Rare Endocrine Disease Therapies

Rare Daily Staff

MBX Biosciences raised $34.6 million in a series A financing round to support the development of therapies for rare endocrine diseases.

Frazier Healthcare Partners led the financing, with participation from OrbiMed, New Enterprise Associates, Indiana Philanthropic Venture Fund, Indiana Seed Fund III, and Twilight Venture Partners II.

Proceeds of the financing will support MBX as it advances a preclinical pipeline of peptide therapeutic candidates directed at clinically validated molecular targets. The company is built upon the medicinal expertise and chemical technologies invented at the Indiana University laboratory of Professor Richard DiMarchi, co-founder and chief scientific officer of MBX. The company seeks to address rare endocrine disorders with substantial unmet medical need.

“With the support of these leading life science investors, we are equipped to advance our drug candidates toward clinical investigation in underserved disease areas,” said Kent Hawryluk, president and CEO of MBX.

DiMarchi and Hawryluk previously collaborated in the creation of the highly successful endocrine drugs Humalog and Forteo, and three Indiana-based companies—Marcadia, Calibrium, and MB2.

In conjunction with the financing, MBX has appointed three new members to its board of directors: Patrick Heron, managing partner of Frazier Healthcare Partners; Carl Gordon, managing partner of OrbiMed; and Ed Mathers, general partner of New Enterprise Associates. They join Hawryluk and DiMarchi.

Photo: Kent Hawryluk, president and CEO of MBX