Renalys Pharma closes ¥6bn series A financing for kidney disease treatments in Asia
Betsy Goodfellow | July 17, 2024 | News story | Business Services | Financing, Nephrology, kidney disease, renalys Pharma
Renalys Pharma has announced that it has completed ¥6bn series A financing, which was led by Catalys Pacific and SR One, along with other investors such as JPS Growth Investment Limited Partnership, Sumitomo Mitsui Trust Bank Co, Japan Co-Invest IV Limited Partnership and NVCC NO.9 Investment Limited Partnership.
The funding is intended to allow the company to complete its phase 3 clinical trial for sparsentan as a treatment for IgA nephropathy in Japan.
The company initially gained rights to the drug through a licensing agreement with Travere Therapeutics, having submitted an Investigational New Drug (IND) Application to the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan in April 2024 and plans to initiate an open-label registrational study later in 2024.
BT Slingsby, founding chief executive officer of Renalys Pharma and founder and managing director of Catalys Pacific, commented: “Renalys is committed to developing innovative treatments that address growing healthcare inequities for patients in Japan and Asia. At Renalys, our paramount objective is to introduce new medicines that transform clinical medicine and patients’ lives, beginning with sparsentan for IgA nephropathy.”
Rajeev Dadoo PhD, managing partner of SR One, added: “SR One is proud to actively partner with entrepreneurs, offering our full support to build transformative biotechnology companies. We are thrilled to join forces with Renalys as they push forward their pipeline of what we believe to be innovative renal disease therapies. Our investment in Renalys reflects our confidence in their ability to develop much-needed new medicines for patients in Japan and across Asia.”
Betsy Goodfellow
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