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Cirius Therapeutics Completes $40 Million Series A Financing to Fund Phase 2b Study of MSDC-0602K in NASH, Adds to Executive Team
SAN DIEGO and KALAMAZOO, Mich., April 11, 2017 /PRNewswire/ – Cirius Therapeutics, previously known as Octeta Therapeutics, announced today the completion of a Series A financing of up to $40 million led by Frazier Healthcare Partners and Novo A/S. Cirius will use the proceeds to complete the ongoing EMMINENCE trial, a Phase 2b study of MSDC-0602K, a next-generation insulin sensitizer, for the treatment of patients with non-alcoholic steatohepatitis (NASH) and liver fibrosis. In addition, the company announced the appointment of Bob Baltera as chief executive officer, Howard Dittrich, M.D., as chief medical officer and Brian Farmer as chief business officer. With the additions to the management team, the company will open an office in San Diego while retaining its R&D operations in Kalamazoo.