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Marcadia completes $15 million Series A financing
June 2007
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INDIANAPOLIS—Marcadia Biotech, a drug development company focused on developing novel biopharmaceutical therapies for diabetes and obesity, announced the completion of a $15 million Series A venture financing. Frazier Healthcare Ventures and founding investor 5AM Ventures co-led this financing round. Joining them in this financing was founding investor Twilight Venture Partners. In connection with this financing, Patrick Heron of Frazier Healthcare Ventures joined Marcadia Biotech's board of directors.
 
"We think the company has great potential because of its combination of unique peptide technology, a world-class therapeutics team out of Lilly and Guidant, and the very large diabetes and obesity markets which have significant unmet clinical needs," says Heron.  "I am personally looking forward to working closely with the management team as a new member of the company's board of directors."
 
Marcadia Biotech announced in November 2006 that it had signed a licensing agreement that gave it the rights to develop and market certain drug candidates in the therapeutic area of metabolic diseases. The license agreement was with Indiana University Research and Technology Corp. and the company signed a separate sponsored research agreement with Indiana University. Marcadia Biotech's founders and senior management are comprised of former senior executives from Indianapolis-based Eli Lilly and Co. and Guidant Corp.
 
"This funding will allow us to significantly advance our discovery and development efforts," says Fritz French, CEO. "This includes the company's first compound in development, a glucagon analog that will be supplied in an injector pen, making it ready for quick use in emergency treatment of hypoglycemia."

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