Palladio Biosciences secured USD20 million on 25th September 2020 in its Series-B funding round. The funding round was led by Samsara BioCapital with its existing investing partners Osage University and Medicxi, and a new investor Roche Venture Fund. The company has planned to fund its ALERT Study and other advanced operations with the funding.
Palladio proposed pharmacodynamic and pharmacokinetic data on the drug lixivaptan in the patients with ADPKD, i.e., Autosomal Dominant Polycystic Kidney Disease, previous year, which cleared the file to run phase 3 of 50-subject. Palladio Biosciences has unveiled a Series B funding round to fund the study of the same trial, which is now enrolling patients. The ALERT Study is an essential step for accessing the safety aspects of lixivaptan.
What will the Palladio Biosciences funding do?
The funding will support Phase 3 to test the ability of lixivaptan for the patients who are unable to continue their treatment with Otsuka’s Samsca because of increased liver enzymes. Samsca is the only V2 vasopressin receptor antagonist used in ADPKD, approved by the FDA due to liver toxicities. Lixivaptan functions equally to tolvaptan, which is the active ingredient of Samsca. And based on the cross-trial comparisons is identically effective as well. The different and better part about lixivaptan is that it is free from the liver toxicities associated with the existing ADPKD treatment Samsca.
Palladio Biosciences Inc.
Palladio Biosciences is a privately operated clinical stage biopharmaceutical corporation. The company was founded in 2015 to develop medicines for orphan kidney diseases. Their first product, lixivaptan, is getting re-positioned for the PKD treatment. Their proposed medicine, lixivaptan, is expected to solve the problems with the existing treatment that cannot be provided to patients with increased liver enzymes. The Phase 2 trial of lixivaptan is completed.
The investing VCs
The funding was led by Samsara BioCapital, which is a VC based in Palo Alto, California. Along with Samsara Biocapital, the Switzerland-based Roche Venture Fund, European VC Medicxi, and OUP also joined the funding round. Samsara BioCapital is the corporation focused on investments in life sciences, oncology and other digital medical sectors. Roche Venture Fund is majorly focused on budding biotech companies to help them prosper, Medixci invests in early and later-stage companies, and OUP focuses on pioneering universities.
Alex Martin, the CEO of Palladio Biosciences said they are grateful for the support by the investment community in aiding them to proceed with the potential AKD drug, and that they welcome the VC’s to join the hands of Palladio.
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