Monday, September 13, 2010

Relypsa Nabs $70M

Santa Clara-based Relypsa, a firm developing non-absorbable polymeric drugs for treating renal impairment, hypertension, diabetes and heart failure, said Monday that it has raised $70M in a Series B funding round. The round was led by OrbiMed Advisors, and also included prior investors New Leaf Venture Partners, 5AM Ventures, Delphi Ventures, Sprout Group and Mediphase Venture Partners. According to Relypsa, the funding will go towards advancing its lead compound through clinical studies. The compound is in a Phase 2 clinical trial for prevention of hyperkalemia in heart failure patients. Jonathan T. Silverstein of OrbiMed joins the company's board as part of the funding. More information »