Tricida Raises $30 Million In Series B Funding

By Annie Baker ● Mar 6, 2015

Tricida is a biopharmaceutical company that focuses on discovering and developing chronic therapies addressing the complications of renal disease. The company has announced that it has raised $30 million in Series B funding. OrbiMed led this round of funding. And Sibling Capital Ventures and Limulus Venture Partners also participated in this round. These three companies were also involved in the $10 million Series A round in 2014.

The company’s clinical lead candidate — which is known as TRC101 — is on track for an IND submission later this year. TRC101 is intended to treat degradation from chronic kidney disease by resolving imbalances of electrolytes like potassium and sodium. “I am excited by our rapid progress that has allowed us to advance TRC101 from discovery into development in record time,” said Tricida’s CEO, President, and Board Member Dr. Gerrit Klaerner in a statement.

Dr. Klaerner is also known for being the co-founder of Ilypsa. Ilypsa had developed treatments for hyperphosphatemia patients on dialysis who have chronic kidney diseases. Ilypsa ended up getting acquired to Amgen in 2007 for $420 million.

And Dr. Klaerner also founded Relypsa, which went public in 2013. And then he left the company later that year.