https://www.businesswire.com/news/home/20200925005062/en/Palladio-Completes-20-Million-Series-B-Financing
Palladio Completes $20 Million Series B Financing: Proceeds will support development of lixivaptan, a potential treatment for ADPKD
Palladio Completes $20 Million Series B Financing
— Led by Samsara BioCapital
— Advancing Phase 3 ALERT Study
September 25, 2020 06:09 AM Eastern Daylight Time
HORSHAM, Pa.–(BUSINESS WIRE)–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.“We are very pleased that Samsara and the Roche Venture Fund recognize the opportunity lixivaptan represents to patients suffering from ADPKD, and we are glad to be working with these new partners to further develop this important therapy”
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Srinivas Akkaraju M.D, Ph.D, Managing General Partner of Samsara BioCapital, stated, “We are very excited about our investment in Palladio to support the development of lixivaptan, a drug that has the potential to deliver a meaningful therapeutic advancement in the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD). The ALERT Study is an important step in assessing the safety differential of lixivaptan.”“We are very pleased that Samsara and the Roche Venture Fund recognize the opportunity lixivaptan represents to patients suffering from ADPKD, and we are glad to be working with these new partners to further develop this important therapy,” said Francesco De Rubertis, co-founder and Partner at Medicxi.