i2o Therapeutics closes $46M Series A, names Kurt Graves as CEO and acquires Intarcia’s twice-rejected diabetes asset
In a slew of company updates, i2o Therapeutics has closed a Series A raise worth $46 million from biotech investors and named Kurt Graves as its new chairman, president and CEO.
The biotech also acquired the cardiometabolic clinical pipeline of Intarcia Therapeutics, which has six candidates, including ITCA 650 — a type 2 diabetes drug/device combo which has been rejected by the FDA twice. The other five assets are all in the preclinical stage under consideration for T2D, nonalcoholic steatohepatitis and obesity.
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