Tricida Inc. raised a $55 million series C to support continued development of its chronic kidney disease (CKD) compound, TRC101. The round propelled the South San Francisco-based biopharma to $95 million in funding since its founding in 2014 and positioned it to complete a phase I/II proof-of-concept study for TRC101 and prepare for a type B meeting with the FDA this year.
Company management has deep experience in handling scientific and financial assets. Tricida is the third venture for the team, which took Ilypsa Inc. from start-up to a $420 million acquisition by Amgen Inc. on the strength of a phase II CKD asset before replicating the experience at Relypsa Inc., where they moved Veltassa (patiromer) through phase III development. (See BioWorld