TLDR:
- Renalys Pharma, a biopharmaceutical company based in Tokyo, raised a ¥6.0Bn in Series A funding.
- The funding will be used to complete a Phase III clinical trial for sparsentan, a treatment for IgA nephropathy, in Japan.
Renalys Pharma, a late-stage clinical biopharmaceutical company based in Tokyo, recently closed a ¥6.0Bn Series A financing round led by Catalys Pacific and SR One, with participation from various other investors. The company, led by CEO BT Slingsby, is focused on developing innovative therapeutics for renal disease for Japanese and Asian patients.
The funds raised will be utilized to complete the Phase III clinical trial for sparsentan, a promising treatment for IgA nephropathy, a prevalent kidney disease in Japan and other Asian regions. Renalys Pharma obtained the rights to sparsentan through a licensing agreement with Travere Therapeutics, Inc. The company has already submitted an Investigational New Drug (IND) Application for sparsentan to the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan and plans to initiate a registrational study in Q2 2024.
This Phase III registration study is expected to provide a much-needed treatment option for patients living with IgA nephropathy across the region. Renalys Pharma aims to address the issue of “drug loss” by improving access to new treatments for kidney disease patients in Japan and other Asian countries.
