San Diego’s Cebix, founded in 2008 to develop a new supplemental treatment for complications arising from type 1 diabetes, intends to raise more than $20 million in a Series B round needed to fund pivotal trials, according to VentureWire. Cebix CEO James Calloway told VentureWire the startup raised $28.5 million from Sofinnova Ventures, InterWest Partners, and Thomas McNerny & Partners in its first round of funding. At the American Diabetes Association’s annual scientific conference in San Diego last summer, Cebix presented data on its C-peptide replacement therapy to address microvascular damage associated with type 1 diabetes.
