Fremont, Calif. -- ARYx Therapeutics Inc., a private drug discovery and development company based in Fremont, said on Wednesday that it has raised $30.4 million in its fifth round of financing, led by Ascent Biomedical Ventures. The company said that it plans to use the funds to continue developing its three clinical programs. Previous investors MPM Capitol, Nomura Phase4 Ventures, OrbiMed, Merlin BioMed, JAFCO Life Science Investments, Scottish Widows Investment Partnership, Montreux Equity Partners and Novel Bioventures also participated in the round. ARYx is using its drug design technologies to address safety issues associated with well-established and commercially successful drugs.
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