Search
Visit
for coverage from TIME, Health, Fortune and more
Go »
Intarcia-Platform-Technology-3
Intarcia's mini-pump

Diabetes-focused ‘unicorn’ Intarcia makes its first-ever acquisition

Sep 24, 2015

Intarcia Therapeutics, the "unicorn" biotech company initially focused on diabetes, has made its first-ever acquisition.

The target was Phoundry Pharmaceuticals Inc., a North Carolina-based developer of more than 20 optimized peptides for treating metabolic diseases. Phoundry originally was a research unit within GlaxoSmithKline (gsk), which recently spun out and raised seed funding just last month from Pappas Ventures.

No financial terms are being disclosed, except that the deal was a combination of cash and stock.

You may recall that Intarcia is the Boston-based drug company that uses an implantable mini-pump to continuously deliver (stable in-body) medication for upwards of a year. CEO Kurt Graves says that the Phoundry portfolio includes some products that, eventually, could help expand his company's product offerings to include a sort of "bariatric surgery via mini-pump."

Kind of mind-boggling but, then again, so is delivering diabetes medication for months at a time via a single outpatient procedure that lasts only about one minute...

Get Term Sheet, our daily newsletter on deals & deal-makers.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions