Intarcia Therapeutics Inc., a privately held biotech company, has completed two financings totaling $210 million. The financing includes $160 million in preferred stock private placement and $50 million in debt financing. Investors include New Enterprise Associates, New Leaf Venture Partners, Venrock, The Baupost Group, and Farallon Capital Management.

As a result of these transactions, Intarcia has retained full strategic and financial control of its lead product candidate ITCA 650 (continuous subcutaneous delivery of exenatide), which, if approved, would be the first and only once-yearly, injection-free GLP-1 therapy for the treatment of type 2 diabetes. Intarcia intends to initiate the global Phase 3 program for ITCA 650 in the first quarter of 2013 with its strategic partner Quintiles, Inc., the world’s leading biopharmaceutical service provider, which has helped develop or commercialize 18 of the 20 best-selling diabetes products.

The completed financing will also facilitate the previously announced move of Intarcia’s corporate headquarters to the Boston, Mass. area, while keeping its early development capabilities and state-of-the-art manufacturing site at its current location in Hayward, California.

Morgan Stanley acted as sole structuring advisor to Intarcia for the transaction. In addition, Morgan Stanley acted as sole placement agent for the debt and lead placement agent for the equity. Leerink Swann LLC acted as co-placement agent on the equity.

Intarcia Therapeutics is a biopharmaceutical company developing therapies to enhance treatment outcomes by optimizing and improving the efficacy, continuous administration and tolerability of drug therapies. In addition, delivering medicines just once or twice yearly virtually ensures patient adherence and compliance, which is very poor in most chronic diseases.