Tricida pulls in $30 mln Series B


South San Francisco-based Tricida, a biopharmaceutical company focused on treating renal disease, has raised $30 million in Series B funding. OrbiMed led the round with participation from Sibling Capital Ventures and Limulus Venture Partners.

PRESS RELEASE

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 closing of a $30M Series B financing. The financing was led by existing investor OrbiMed, with participation by Sibling Capital Ventures and Limulus Venture Partners.

Tricida’s clinical lead candidate, TRC101, is on track for an IND submission later this year. “I am excited by our rapid progress that has allowed us to advance TRC101 from discovery into development in record time,” said Dr. Gerrit Klaerner, Ph.D., Tricida’s CEO, President, and Board Member.

Dr. David Bonita, Tricida’s interim Chairman and Private Equity Partner at OrbiMed, stated, “Tricida’s experienced team has demonstrated yet again the ability to identify a clinical candidate that holds great potential in addressing a significant unmet medical need in chronic kidney disease.”

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.

Tricida Team: 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).

For more information about Tricida’s investors, please see the following websites:
OrbiMed:
www.orbimed.com

Sibling Capital Ventures:
www.siblingcapital.com