Marcadia Biotech lands $15M in venture funding

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Carmel drug developer Marcadia Biotech has received a $15 million venture capital investment from Frazier Healthcare Ventures of Seattle and locally based Twilight Venture Partners.

The funding will help Marcadia develop projects including a glucagon analog for emergency treatment of hypoglycemia, the company announced today.

Marcadia, which is led by former senior executives of Eli Lilly and Co. and Guidant Corp., is developing technology licensed from Indiana University Research and Technology Corp.

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