PR Newswire: news distribution, targeting and monitoring
2014

NGM Biopharmaceuticals Secures $50 Million in Series C Financing to Advance its Portfolio of Novel Therapies for Diabetes and Obesity

Share with Twitter Share with LinkedIn

SOUTH SAN FRANCISCO, Calif., July 18, 2013 /PRNewswire/ -- NGM Biopharmaceuticals, Inc. announced today the successful completion of a $50 million Series C financing to support advancing its portfolio of potential therapeutics for the treatment of diabetes, obesity and other cardio-metabolic diseases. 

Several new investors participated in the Series C financing, including the Topspin Fund, an investment group comprised of James Simons, Leo A. Guthart, Andy Gyenes and Steven Winick.  The financing also included participation from our existing investors, including The Column Group, Prospect Venture Partners, Rho Ventures and Tichenor Ventures.  With the Series C financing, NGM has raised over $130 million since the company's founding in 2008.

"With this $50 million round of equity financing, coupled with non-dilutive capital from our collaborations with Daiichi Sankyo, Janssen, MedImmune and JDRF, NGM is well-positioned to advance the promising pipeline of candidates generated by our drug discovery efforts," said William J. Rieflin, Chief Executive Officer of NGM.  "We remain focused on delivering the next generation of first-in-class therapeutics for the treatment of diabetes and other cardio-metabolic diseases."

About NGM Biopharmaceuticals, Inc.

Founded in 2008, NGM is a privately-held drug discovery company in South San Francisco, California committed to the identification and development of transformational biologics for diabetes, obesity and other cardio-metabolic diseases.  NGM has established collaborations with Daiichi Sankyo, Janssen Pharmaceuticals, MedImmune and JDRF.  For more information, please visit the company's website at www.ngmbio.com.

SOURCE NGM Biopharmaceuticals, Inc.



RELATED LINKS
http://www.ngmbio.com

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 
Area to test

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release