ZS Pharma Inc., a Fort Worth, Texas-based specialty pharmaceutical company, has closed a $46m financing round.
The round was led by Alta Partners, with participation from new investors RiverVest Venture Partners, 3×5 Special Opportunity Partners and Salem Partners as well as current investor Devon Park Bioventures.
The company intends to use the capital to advance development of ZS-9, a crystal form of zirconium silicate, designed to treat patients with kidney and liver disease, and proceed with pivotal trials as it prepares for commercialization of the product.
The ZS-9 compound selectively removes life-threatening toxins from patients suffering from kidney and liver disease and related conditions. Initial human clinical testing was focused on patients with elevated levels of potassium in their blood, a condition known as hyperkalemia.
In conjunction with the financing, Robert Alexander, general partner, Alta Partners and John McKearn, managing partner, RiverVest Venture Partners, will join ZS Pharma’s Board of Directors.
Founded in 2008 and led by Dr. Al Guillem, president and CEO, the company also plans to research and develop other compounds targeting kidney and liver disease, conditions known to have limited treatment options today.
FinSMEs
28/10/2012