Tricida Announces In-House Discovered Clinical Candidate in Cardiorenal Disease
Company completed $10 million Series A Financing earlier this year with investments by OrbiMed, Sibling Capital and Limulus Venture Partners
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Tricida, Inc., a privately-held biopharmaceutical company focused on the discovery and development of first-in-class chronic therapies addressing complications of renal disease, announced today the discovery of a clinical candidate for chronic treatment of complications of cardiorenal disease. Earlier this year, Tricida closed a $10 million Series A financing led by OrbiMed Advisors, with investments by Sibling Capital Ventures and Limulus Venture Partners. Sibling Capital Ventures, Tricida’s founding investor, provided seed funding to enable pre-clinical activities and market validation studies ahead of the Series A financing.
“Tricida’s approach to focus on a first-in-class, GI-based, non-absorbed therapy has the chance to fundamentally address progression of renal disease. Coupled with the team’s proven track record, this venture constitutes an attractive investment opportunity for OrbiMed.”
Tricida brings together leading life science investors with a seasoned management team led by Gerrit Klaerner, Ph.D. (CEO, President and Board Member) and Jerry Buysse, Ph.D. (Chief Scientific Officer and Senior Vice President). On the Tricida Board are David Bonita, M.D. (interim Chairman, OrbiMed), Sandra Coufal, M.D. (Sibling Capital), Robert Alpern, M.D. (independent; Dean and Ensign Professor, Yale School of Medicine), and Klaus Veitinger, M.D., Ph.D. (independent).
“Tricida’s clinical lead candidate, TRC101, is on track for an IND submission in late 2015,” said Dr. Klaerner. “I am proud of Tricida’s team of scientists and physicians who have identified a significant unmet medical need and discovered a clinical candidate less than one year since inception of the company.”
Dr. Bonita, Tricida’s interim chairman and Private Equity Partner at OrbiMed, stated, “Tricida’s approach to focus on a first-in-class, GI-based, non-absorbed therapy has the chance to fundamentally address progression of renal disease. Coupled with the team’s proven track record, this venture constitutes an attractive investment opportunity for OrbiMed.”
About Tricida, Inc.
Tricida, Inc., is a pre-clinical-stage biopharmaceutical company focused on the discovery and development of first-in-class therapeutics. Tricida’s lead program is TRC101, a chronic treatment for complications of renal disease. More information is available at www.tricida.com.
For more information about Tricida’s investors, please see the following websites: