Renalys Pharma has recently announced completion of a ¥6 billion Series A financing. The financing was led by Catalys Pacific and SR One, along with additional investors, including JPS Growth Investment Limited Partnership, Sumitomo Mitsui Trust Bank company Limited, Japan Co-Invest IV Limited Partnership, and NVCC NO.9 Investment Limited Partnership.
The company hopes that Series A financing will enable it to complete its Phase III clinical trial for sparsentan, a “promising treatment” for immunoglobulin A (IgA) nephropathy, in Japan. IgA nephropathy is a prevalent kidney disease in Japan and throughout Asia. Renalys Pharma obtained the rights to sparsentan through a licensing agreement with Travere Therapeutics. In April 2024, Renalys Pharma submitted an investigational new drug (IND) application for sparsentan to the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan, and plans to initiate an open-label registrational study in Q2 2024, with results from the urine protein/creatinine ratio endpoint expected in the second half of 2025. Renalys Pharma hopes that this Phase III registration study will bring it closer to providing what they refer to as a “much-needed treatment option for patients living with IgA nephropathy across the region”.
Commenting on the new financial support for the clinical trial, BT Slingsby, founding chief executive officer (CEO) of Renalys Pharma and founder and managing director of Catalys Pacific, said: “Renalys is committed to developing innovative treatments that address growing healthcare inequities for patients in Japan and Asia. At Renalys, our paramount objective is to introduce new medicines that transform clinical medicine and patients’ lives, beginning with sparsentan for IgA nephropathy.”
Also sharing his thoughts on the Series A financing, Rajeev Dadoo, managing partner of SR One, said that “SR One is proud to actively partner with entrepreneurs, offering our full support to build transformative biotechnology companies. We are thrilled to join forces with Renalys as they push forward their pipeline of what we believe to be innovative renal disease therapies. Our investment in Renalys reflects our confidence in its ability to develop much-needed new medicines for patients in Japan and across Asia.”
