Monday, October 29, 2007

Relypsa Gets $33M, Spins Out of Amgen-Ilypsa

Santa Clara-based Relypsa, a biopharmaceutical firm discovering and developing novel polymeric drugs, said Monday that it has closed on $33M in a Series A funding. The round was led by 5AM Ventures and New Leaf Venture Partners, and also included Delphi Ventures, CMEA venturse, and Mediphase Venture Partners. The firm is a spinout of Amgen's wholly owned subsidiary, Ilypsa. According to the firm, the new company includes 38 former Ilypsa employees, and will focus on polymeric medicines for treating cardiovascular and renal diseases. Amgen will maintain a minority equity stake in the new company. More information »