Us2.ai receives FDA clearance for Us2.v2,transforming…

San Francisco, CA, May 24, 2017 – OrphoMed, Inc., a clinical stage biopharmaceutical company developing first-in-class dimer therapies, today announced the completion of a $39 million Series A financing. The round was led by New Enterprise Associates (NEA), and co-led by existing seed investor Takeda Ventures, Inc., with participation from other prior investors: Pappas Capital, through its newest fund, Pappas Ventures V; Relativity Healthcare Partners and the Mario Family Fund. In conjunction with the financing, Frank Torti, MD, Partner at NEA, and Arthur Pappas, Managing Partner of Pappas Capital, will join the company’s board alongside existing directors Michael Martin, PhD, Global Head Takeda Ventures, Inc.; Kenneth Widder, MD, Executive Chairman; and Nikhilesh Singh, PhD, Chief Executive Officer. The capital will be used to advance the clinical development of OrphoMed’s lead candidate, ORP-101, for the treatment of irritable bowel syndrome with diarrhea (IBS-D).