Intercept raises $25 million

Intercept (New York, N.Y.) raised $25 million in a private round from Genextra (Milan, Italy). Intercept said the financing was in lieu of a previously planned $20.5 million second tranche of a $41 million round announced in May 2006 and led by Genextra, in which Intercept raised $20.5 million. Intercept has raised $50 million since its founding.

Intercept's INT-747, an oral farnesoid X receptor (FRX) agonist, is in two Phase II trials in patients with primary biliary cirrhosis (PBC), for which it has Orphan Drug designation in the U.S., and one in Type II diabetes patients with nonalcoholic fatty liver disease. ...