Principia Biopharma Raises $50M

South San Francisco-based Principia Biopharma said yesterday that it has raised $50M in a Series B funding round. The company, which is developing small molecule biopharmaceuticals aimed at treating autoimmune diseases, said the funding was led by Sofinnova Ventures, and included Morgenthaler Ventures, New Leaf Venture Partners, OrbiMed, SR One, Mission Bay Capital, and others. The funding goes towards advancing its pipeline. Sofinnova's Srinivas Akkaraju joins the board with the funding. More information »