Pal­la­dio bags $20 mil­lion Se­ries B to top­ple a prob­lem­at­ic kid­ney dis­ease drug

Pal­la­dio Bio­sciences just took one step fur­ther in its quest to top­ple Ot­su­ka’s Sam­sca with its own — it hopes safer — au­to­so­mal dom­i­nant poly­cys­tic kid­ney dis­ease (ADP­KD) drug.

The Penn­syl­va­nia-based biotech an­nounced a $20 mil­lion Se­ries B on Fri­day, which will fund a 10-per­son Phase III tri­al of its va­so­pressin V2 re­cep­tor ag­o­nist, lix­i­vap­tan. CEO Alex Mar­tin ex­pects to read out da­ta in the first half of next year, then launch straight in­to a larg­er piv­otal Phase III study with about 1,200 par­tic­i­pants.

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