Intarcia Therapeutics, a US-based biopharmaceutical firm whose name is derived from the Latin for insert, has nearly doubled the equity it has raised over the past 15 years with its latest $160m round.

Intarcia said its combined $160m sale of shares and $50m debt placement was “the largest sum to be raised by a private biotechnology company in at least 25 years”.

Venture capital firms New Enterprise Associates (NEA), New Leaf Venture Partners, Venrock, Alta Partners and Foresite Capital, secondaries firm Omega Funds and hedge funds Baupost Group and Farallon Capital Management invested in the round.

Investment bank Morgan Stanley was sole placement agent for the debt and lead placement agent for the equity, with peer Leerink Swann as co-placement agent on the equity.

Intarcia said the money would be used to develop its lead product candidate ITCA 650, a therapy for the treatment of type two diabetes. Intarcia intends…

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