R1 Therapeutics raises $77.5m to progress AP306 for hyperphosphatemia [Yahoo! Finance]
ROCHE HOLDING LTD S/ADR (RHHBY)
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Source: Yahoo! Finance
The company also secured an exclusive global licence for the development and commercialisation of AP306 with Alebund Pharmaceuticals, excluding Greater China. The funding will support the global development of AP306 in collaboration with Alebund. The Series A round was co-led by Abingworth, F-Prime, and DaVita Venture Group, along with Curie.Bio, SymBiosis, and U. Renal Care. R1 plans to initiate a Phase IIb study of AP306 later this year. AP306 is a first-in-class pan phosphate transporter inhibitor under development as monotherapy for hyperphosphatemia in CKD patients. Unlike currently available phosphate-lowering therapies that address passive phosphate transport through binding mechanisms, AP306 is said to be the only agent designed to block active phosphate transport for CKD treatment. Uncontrolled hyperphosphatemia is associated with bone and cardiovascular disease, leading to increased morbidity and mortality risk. A Phase IIa study of AP306 in dialysis patients
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