Name of Company: Relypsa Inc.
Industry: Biopharmaceuticals
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City, State: Santa Clara, California
Solution/Product: Patiromer, or RLY5016, is a non-absorbed oral potassium binder being developed for the treatment of hyperkalemia in patients with chronic kidney disease, diabetes and heart failure. Hyperkalemia is characterized by elevated serum potassium levels, which may lead to muscle weakness, cardiac arrhythmia or sudden death. Relypsa’s binder is designed to soak up the extra potassium without being absorbed into the body. It’s currently in a phase 2b study.
Money Raised: An $80 million series C. Previously, Relypsa raised a $70 million series B in 2010 and a $43 million series A.
How will it be used: It will fund late-stage development, submission of an NDA and commercial planning, according to a statement from the company. A phase 3 pivotal clinical trial is also planned for this year.
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Investors: OrbiMed Advisors, 5AM Ventures, New Leaf Venture Partners, Sprout Group, Delphi Ventures, Mediphase Venture Partners and Sibling Capital LLC.
Management team: Relypsa was formed as a spinout of Ilypsa, which developed a drug designed to prevent the absorption of extra phosphorus in the blood as the result of kidney failure, and was acquired by Amgen in 2007 for $420 million. President Gerrit Klaerner and CSO Jerry Buysse were part of the Ilypsa team.
Market size: A market report from GlobalData suggests that the $13 billion chronic kidney disease market will grow moderately through 2016.
Competitors: Kayexalate is one of the most frequently used treatments for hyperkalemia, but sometimes dialysis is required. Companies including Blood Purification Technologies Inc. and ZS Pharma are developing alternative treatments to remove toxins in the blood of patients with renal disease.