{"id":10842,"date":"2012-08-15T11:28:04","date_gmt":"2012-08-15T15:28:04","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=10842"},"modified":"2012-08-15T11:28:04","modified_gmt":"2012-08-15T15:28:04","slug":"biopharm-raises-80-million-in-series-c-venture-funds","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=10842","title":{"rendered":"Biopharm Raises $80 Million in Series C Venture Funds"},"content":{"rendered":"

\"Loose<\/a>Relypsa Inc.<\/a>, a clinical stage biopharmaceutical company in Santa Clara, California raised $80 million in series C venture funds, the third round of financing after initial start-up. New investor Sibling Capital LLC joins current backers OrbiMed Advisors, 5AM Ventures, New Leaf Venture Partners, Sprout Group, Delphi Ventures, and Mediphase Venture Partners in this funding round.<\/p>\n

Relypsa is a developer of non-absorbed polymeric drugs to treat cardiovascular and renal diseases. Its lead candidate is patiromer or RLY5016<\/a> is an oral potassium binder being developed for the treatment of hyperkalemia in patients with diabetes, chronic kidney disease, and heart failure. A phase 2 clinical trial<\/a> of patiromer is currently under way.<\/p>\n

Hyperkalemia<\/a> is a condition resulting from excessive potassium in the blood stream. The condition is diagnosed in some 8 percent of hospitalized patients in the U.S., usually in a mild form. Severe hyperkalemia, marked by extremely high levels of potassium in the blood, can lead to cardiac arrest and death. When not recognized and treated properly, severe hyperkalemia has a mortality rate of about 67 percent.<\/p>\n

Proceeds from the new financing are expected to fund late-stage clinical trials and further development of patiromer, submission of a new drug application, and commercial planning for the drug. The current phase 2 trial has completed enrollment of 306 subjects at some 50 sites. The trial will test patiromer’s efficacy in an eight-week treatment period, followed by the long-term evaluation of safety and tolerability in a subsequent 44-week extended treatment period.<\/p>\n

Relypsa had earlier raised raised $43 million in in Series A round and $70 million in Series B financing. The company was founded in 2007 as a spin-off from Ilypsa Inc., which was acquired by Amgen in 2007.<\/p>\n

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