Relypsa, Inc., a Santa Clara, CA-based biopharmaceutical company developing non-absorbed polymeric drugs, completed a $70m Series B financing.
The round was led by OrbiMed Advisors, LLC, with participation from existing investors New Leaf Venture Partners, 5AM Ventures, Delphi Ventures, Sprout Group and Mediphase Venture Partners.
The funds will support the advancement of Relypsa’s lead compound, RLY5016, through pivotal clinical studies.
RLY5016 is a high capacity non-absorbed oral potassium binder being developed for the chronic and acute management of hyperkalemia, which is most prevalent in patients that suffer from renal impairment, hypertension, diabetes and heart failure.
The company has completed several clinical trials of the compound, including the PEARL-HF Phase 2 clinical trial, a multi-center, randomized, placebo-controlled study that assessed the efficacy, safety and tolerability of RLY5016 for the prevention of hyperkalemia in heart failure patients.
A multi-center, open-label study to explore titration of the company is currently underway and is intended to inform pivotal study design.
In conjunction with the financing, Jonathan T. Silverstein, J.D., General Partner of OrbiMed, and Thomas J. Schuetz, M.D., Ph.D., will join the company’s board of directors.
Furthermore, Jay P. Shepard will step down.
Prior investors participating in the Series B and existing board members include:
– Scott M. Rocklage, Ph.D., Managing Partner of 5AM Ventures and executive Chairman of Relypsa,
– Deepa Pakianathan, Ph.D., General Partner at Delphi Ventures
– Vijay Lathi, Managing Partner, New Leaf Venture Partners.
Gerrit Klaerner, Ph.D., is President of the company.