US-based small molecule discovery company Receptos secured $10.8m out of a planned $50m series B round last Friday, bringing its total funding to about $43.5m.

Investors in the round have not been officially disclosed but signatories for the filing include Receptos board members who are also members of Lilly Ventures, the corporate venturing fund for pharmaceutical conglomerate Eli Lilly, and venture capital firms Arch Venture Partners and Flagship Ventures, as well as Amir Nashat, principal at VC firm Polaris Venture Partners.

Eli Lilly, Arch and Flagship previously contributed to Receptos’ $25m series A round in November 2009 along with VC firm Venrock. The round came six months after Receptos pulled in $7.7m in a round that included Michael Sheffery, general partner of OrbiMed Advisors, among the signatories.

Receptos has also entered into clinical development partnerships with Eli Lilly and fellow pharmaceutical companies Ono and Johnson & Johnson, through its…

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