MBX Biosciences raises $63.5 million in Series C financing

6 August 2024

US clinical-stage MBX Biosciences yesterday announced a $63.5 million Series C financing led by Deep Track Capital, with participation from new investors Driehaus Capital Management and funds and accounts advised by T. Rowe Price Associates, as well as existing investors

Frazier Life Sciences, OrbiMed and Wellington Management, complementing our existing investor base, including New Enterprise Associates (NEA), Norwest Venture Partners and RA Capital Management.

MBX, which is focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, first emerged in 2019, based on technology from Richard DiMarchi, an ex-Eli Lilly (NYSE: LLY) executive and serial entrepreneur. In November 2022, the company announced the closing of a Series B financing totalling $115 million.

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