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news.Clinical stage, biopharmaceutical firm Tricida has raised $55m in funding for late-stage trials of its lead candidate, TRC101, in patients with kidney disease.
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The Series C round, which brings Tricida’s total financing to $95M, was led by new investor Longitude Capital.
New investor Vivo Capital and existing investors OrbiMed, Sibling Capital Ventures and Limulus Venture Partners participated in the round.
Tricida is on track to complete a first-in-human 100 patient phase 1/2 study of TRC101 in 2016.
The company is preparing to discuss the safety and efficacy results from the study with the US Food and Drug Administration (FDA) in a Type B meeting later this year.
Earlier this year, the FDA accepted its investigational new drug application to start clinical studies for TRC101.
Tricida board chairman and Venture Partner at OrbiMed Klaus Veitinger said: “In less than three years, Tricida has advanced from idea to clinical proof of concept in a very capital-efficient manner.
“The company’s anticipated development path and commercial positioning in pre-dialysis patients allow us to consider multiple options, including eventually launching TRC101 with our own sales force.”
Tricida raised a $10M series A round of financing in the first quarter of 2014 and a $30M Series B in Q1 of 2015.