Palladio Completes $20 Million Series B Financing

Sep 25, 2020•almost 5 years ago

Amount Raised

$20 Million

Round Type

series b

Woodstock

Description

Palladio Biosciences, Inc. (Palladio), a privately-held, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney, announced today the completion of a $20 million Series B investment. The financing was led by new investor, Samsara BioCapital, with participation from new investor, the Roche Venture Fund and existing investors, Medicxi and Osage University Partners. Proceeds from the financing will fund Palladio’s Phase 3 ALERT Study and advance operations.

Company Information

Company

Palladio

Location

Woodstock, Illinois, United States

About

Palladio Biosciences is a privately-held, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney. Palladio is developing its lead drug, lixivaptan, for Autosomal Dominant Polycystic Kidney Disease (ADPKD), an orphan kidney disease for which there are limited treatment options. Lixivaptan is a potent, selective vasopressin V2 receptor antagonist, a mechanism of action that has clinical proof of concept to slow kidney function decline in adults at risk of rapidly progressing ADPKD. It has successfully completed a Phase 2 clinical trial, The ELiSA Study, in patients with ADPKD, and has also been successfully administered to a patient who had previously been unable to take tolvaptan due to liver enzyme increases under an expanded access program. Lixivaptan is for investigational use only. For more information, please visit our website at Palladio.

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