Insamo, a biotechnology company pioneering the discovery of membrane-permeable and orally available cyclic-peptides, announced $12 million in seed capital from Playground Global, venBio, and MRL Ventures Fund (MRLV). MRLV is a corporate venture arm of Merck & Co., Inc which invests in early-stage, preclinical therapeutics companies.

As part of the financing, Matt Hershenson, co-founder, Playground Global, and Corey Goodman, Ph.D, co-founder, venBio, will join the company's Board of Directors. Sahsen Ventures, BEVC, Civilization Ventures, and Axial Ventures also participated in the recent financing.