Endevica Bio, a company developing first-in-class peptide drug candidates with better safety and efficacy properties, has closed a $10 million Series B funding. The existing investors had full participation rights in the round and purchased all of the shares that were being made available.

Endevica Bio creates first-in-class peptide drug candidates. Endevica's technology platform, protected by a family of patents and pending applications, allows for the modification of peptides to modulate activity of G-protein coupled receptors behind the blood-brain barrier. Endevica's initial drug candidate, TCMCB07, is designed to treat cachexia, which is caused by many diseases like cancer, renal failure and congestive heart failure.