Elcelyx Therapeutics Inc., a biotechnology firm developing drugs for weight management and obesity-related metabolic disorders, has raised $5.8 million in a Series D financing round, according to a recent filing with the Securities and Exchange Commission.

This funding comes after a $24.7 million Series C round in February of last year, which was intended to help bring its product candidate, NewMet, into late-stage development.

Elcelyx CEO and president Dr. Alain Baron said the company plans to use the new funds in combination with Mezzanine financing to prepare for Phase 3 clinical trials and the company’s eventual initial public offering (IPO).

Baron said the company is on track to file a new drug application in 2018.

The San Diego-based company has raised a total of $51.7 million since it was founded in 2010.