Silicon Valley / San Jose Business Journal by Jon Xavier, Web Producer
Relypsa Inc., a clinical stage biopharmaceutical company working on treatments for hyperkalemia in patients with diabetes, cronic kidney disease, and heart failure, said Friday in a filing with the SEC that it had raised $49.7 million of a $80 million Series C round.
The Santa Clara-based pharmaceutical company offered equity to secure the funding. All told, this brings the company's funding to $183 million. Relypsa's previous investors include 5AM Ventures, New Leaf Venture Partners, The Sprout Group, Delphi Ventures, CMEA Ventures, Mediphase Venture Partners and OrbiMed Advisors.
Relypsa is currently in Phase 2 of clinical trials for its RKY5016 high-capacity cation binder, which is being investigated to treat the high levels of potassium in the blood that sometimes occur as a side effect of diabetes and kidney disease. At extreme levels, potassium can cause potentially fatal heart attacks. Relypsa's treatment has already successfully completed five clinical trials.