Relypsa announced an $80 million Series C preferred stock financing, including participation from both new and existing investors.
Proceeds from this private financing will be used to fund late-stage development, submission of a new drug application and commercial planning for patiromer (RLY5016), the company’s high capacity non-absorbed oral potassium binder being developed for the treatment of hyperkalemia.
Relypsa plans to initiate Phase 3 pivotal clinical trials of patiromer this year.
The Series C financing round included existing investors OrbiMed Advisors, 5AM Ventures, New Leaf Venture Partners, Sprout Group, Delphi Ventures and Mediphase Venture Partners.
New investor Sibling Capital, LLC also participated in the transaction.
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