India-based Perlecan Pharma said this week that its anti-diabetic drug candidate DRL-16436 had entered the first phase of clinical trials, according to The Economic Times. The company has more than $50 million in financial backing from Dr. Reddy’s Laboratories Ltd. (NYSE: RDY), Citigroup Venture Capital International Growth Partnership Mauritius Ltd., and ICICI Venture Funds Management Company. The phase-one clinical trials are being conducted in the Netherlands. www.drreddys.com.
iMedica Corp., a Carrollton, Texas-based developer of electronic medical record systems, has sold $6.8 million of preferred stock in a Series C financing round, according to a Form D filed with the Securities and Exchange Commission. The company seeks to draw $9 million altogether in the round. Investors listed on the filing include Leavitt Covington Ventures LLC, North American Venture Fund II LP and CDIB Venture Management (USA) Inc. The company’s flagship product is designed to improve the flow of data among doctors, staff and insurance providers. CEO Michael Nissenbaum and COO Neil Simon are at the helm. www.imedica.com
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