PhaseBio Pharmaceuticals Inc., a clinical-stage biotechnology company developing drugs to treat diabetes, metabolic disease and cardiovascular disease, has closed its Series B round with a total of $48.4 million, the company announced. The round closed after a third tranche.
PhaseBio is backed by New Enterprise Associates, Astellas Venture Management, Johnson & Johnson Development Corp., Hatteras Venture Partners and Fletcher Spaght Ventures.