Wednesday, August 31, 2011

Ardelyx Raises $30M

Fremont-based Ardelyx, a biopharmaceuticals firm developing treatments for irritable bowel syndrome, kidney disease, and diabetes, said Tuesday that it has raised $30M in a Series B funding round. The round included New Enterprise Associates, CMEA, Amgen Ventures, as well as individual investors. The firm said the funding will go towards advancing its pipeline. The firm is developing a non-absorbed, small molecule which operates on the intestines. The firm's lead compound is aimed at irritable bowel syndrome. More information »