Elcelyx Therapeutics is backed by premier investors that have made it possible to execute a dual-track strategy to develop safe solutions for weight management and obesity-related metabolic disorders for both the consumer and pharmaceutical markets. Elcelyx received Series A funding of $2 million from Morgenthaler Ventures in 2010. In 2011, a syndicate of investors including Morgenthaler Ventures, Kleiner Perkins Caufield & Byers and Technology Partners provided Series B funding of $14 million. In 2012, Elcelyx received a $7 million extension of its Series B financing with participation from all existing investors. In early 2013, the company raised $20 million in its Series C financing led by new investment group GSM Fund LLC. All existing investors also participated in the round.
Morgenthaler Ventures has been in the venture capital business for more than 40 years, steadily investing through every market cycle. Throughout that time, the firm has had the good fortune to work with exceptional entrepreneurs to help build companies of value.
Among the many Morgenthaler-funded companies that have gone public or were acquired are: Apple, Ardian, Atria, Brion, Illustra Technologies, IPC – The Hospitalist Company, Medaphis, Microchip, New Focus, NexTag, NEXTEL, Nuance Communications, Perclose, Premisys, Ribozyme Pharmaceuticals, Siri, Synopsys and VeriFone. www.morgenthaler.com.
Kleiner Perkins Caufield & Byers (KPCB) is a well-known Silicon Valley venture capital firm, due in large part to their past success. They were early investors in many significant companies, including Amazon, AOL, Compaq, Electronic Arts, Google, Intuit, Macromedia, Netscape, Segway and Sun Microsystems.
The name of the firm comes from the four founding partners: Eugene Kleiner, Tom Perkins, Frank J. Caufield and Brook Byers. www.kpcb.com.
Founded over 25 years ago, Technology Partners manages a total of approximately $700 million of venture capital. Investments are being made currently from Technology Partners VIII, L.P., a $300 million fund. www.technologypartners.com.
GSM Fund LLC was established in 2013 as a fund dedicated to Elcelyx’ Series C financing. The fund is overseen by managing member Rick Barry, a veteran pharmaceutical industry investment professional.