Celsius turns up the heat with lead drug selection, $83M financing

The temperature is rising at Celsius Therapeutics as the precision-medicine-focused biotech picks a lead candidate and reels in $83 million in funding.

Celsius has now picked its first clinical candidate, an antibody treatment for inflammatory bowel disease (IBD) called CEL383. To top that off, the biotech has picked up $83 million in new funding from an expansion of its 2018 series A round combined with a new series B financing. Amgen Ventures was one of the new investors to chip in this time, along with Amplitude Ventures, Catalio Capital and several others. The company initially raised $63 million in the series A.