Orexigen Therapeutics, Inc., a privately held clinical-stage neuroscience company developing novel strategic approaches to the treatment of obesity, recently announced the completion of a $30 Million Series C private equity financing. Proceeds from the Series C financing will be used to advance Orexigen’s clinical programs for its two lead drug candidates for the treatment of obesity and for general corporate purposes.

Existing investors participated in the financing, along with new investors MPM BioEquities and Wasatch Advisors.

OREXIGEN™ Therapeutics, Inc. is a privately held clinical-stage neuroscience company in San Diego, California developing novel strategic approaches to the treatment of obesity. OREXIGEN leverages its proprietary science to design and screen drugs and drug combinations that work together in the central nervous system to enhance satiety, diminish appetite, improve energy expenditure and minimize the body's efforts to compensate for weight loss. OREXIGEN has two lead drug candidates in clinical trials, Contrave™ (phase II/III) and Excalia™ (phase IIb), along with a pipeline of earlier stage drug combinations now being tested. Each is designed to act on a specific group of neurons in the central nervous system with the goal of achieving appetite suppression and sustained weight loss. By targeting different groups of neurons OREXIGEN is working to develop compounds that each can achieve a different weight loss profile, providing rapid weight loss where required (Excalia) or emphasizing steady, sustainable weight loss where preferred (Contrave).

For more information, please visit www.orexigen.com