Hyperion raises $40 million in venture funds

South San Francisco’s Hyperion Therapeutics, a biopharmaceutical firm specializing in gastrointestinal and hepatology therapies, has raised $40 million in a second round of venture funding.

Sofinnova Ventures was the lead investor, with equal commitments from Highland Capital Partners and NEA, all of them based in Menlo Park.

WRF Capital of Seattle, Wash. also invested.

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