ARTICLE | Finance

Rule of 3

OrbiMed puts up half of $70M B round in Relypsa

September 20, 2010 7:00 AM UTC

OrbiMed Advisors is willing to put up money from its new $550 million fund when it expects a company can get a drug candidate approved within three years. The first example of that strategy is last week's $70 million series B round in Relypsa Inc., where the firm put in $35 million.

"On assets where we think there is a high probability of getting a drug approved in the next three years, we are very interested in funding those companies to an NDA filing," the firm's Jonathan Silverstein told Ebb & Flow. "We think that any product that can get approved before the end of 2013 is going to get extra attention from pharma right now."...