Pathalys Pharma Secures $105 Million Series B Financing

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Aug 20, 2024, 08:30 ET

Oversubscribed Financing Paves Path to NDA Submission and Pre-commercialization Efforts for upacicalcet

RESEARCH TRIANGLE PARK, N.C., Aug. 20, 2024 /PRNewswire/ -- Pathalys Pharma, Inc., a private biopharmaceutical company in the late stages of developing treatments for kidney disease, has successfully closed a $105 million Series B financing round.

The oversubscribed financing was led by TCGX and joined by other notable investors including, JP Morgan Life Sciences Private Capital, Samsara BioCapital, Marshall Wace, KB Investment, JPS Growth Investment Limited Partnership, and included support from Pathalys' founding investors, Catalys Pacific and DaVita Venture Group.

"Since our inception, Pathalys has made significant strides toward our goal of delivering a best-in-class treatment for those with end-stage kidney disease (ESKD), including the near completion of two phase 3 clinical trials for upacicalcet," said Neal Fowler, Chief Executive Officer at Pathalys Pharma, Inc. "We believe the continued expansion of our syndicate of prominent life science investors, with representative board members, is indicative of the fact that we are on the right path at Pathalys. We are immensely grateful for the continued support of our investors and remain steadfast and confident in our mission to bring upacicalcet forward to patients."

"I am thrilled to support the Pathalys Pharma team in bringing upacicalcet to dialysis patients with ESKD who need improved calcimimetic treatment options," stated Chen Yu, M.D., Founder and Managing Partner of TCGX. "With both upacicalcet trials on track for early completion, we are hopeful that these efforts will support a near-term NDA filing with the FDA. I am excited to be a part of this journey as a member of the Pathalys board."

The funds raised via this financing will be utilized to finalize the two ongoing upacicalcet clinical trials, execution of the NDA filing process with the U.S. Food and Drug Administration (FDA), and acceleration of preapproval commercialization preparations. Joining the Board of Directors as members will be Dr. Chen Yu and Mr. Joe Siletto, Managing Partner of JP Morgan Life Sciences Private Capital. Additionally, Dr. Roger Zhang, Ph.D. of Samsara BioCapital will join the Board as an observer.

"We are excited to have Chen and Joe join our Board and support Pathalys' efforts to develop innovative medicines aimed to improve the lives of patients with kidney disease. We are confident that their extensive financial markets experience and leadership will further complement our current Board," commented BT Slingsby, M.D., Ph.D., M.P.H., Co-founder, and Executive Chairperson of Pathalys and Founder of Catalys Pacific.

ABOUT PATHALYS PHARMA
Pathalys Pharma, Inc. is a private, late-stage clinical biopharmaceutical company committed to the development of multiple advanced therapeutics that address unmet needs in the management of ESKD. Pathalys' initial asset is upacicalcet, a novel calcimimetic with the potential to improve the treatment of SHPT in hemodialysis patients. Beyond upacicalcet, Pathalys continues to identify other high priority needs and potential solutions for patients with ESKD. Pathalys was co-founded by Catalys Pacific and DaVita Venture Group and is headquartered in Research Triangle Park, North Carolina.

For more information about Pathalys, please visit pathalys.com.

ABOUT TCGX

TCGX is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCGX invests in both private and public companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCGX has investment teams in Palo Alto and New York City.

For more information, please visit www.tcgcrossover.com

SOURCE Pathalys Pharma