Sorbent Therapeutics develops non-absorbed polymeric drugs targeting large cardiovascular and renal markets such as heart failure, chronic kidney disease and hypertension. Its lead product, CLP-1001, is a cross-linked polyelectrolyte polymer intended to selectively bind to and remove excess water and sodium in the GI tract. The company completed enrollment of 275 patients in its Phase 2b STEPWISE clinical trial of CLP-1001. Proceeds from the recent financing will support continued development of CLP-1001 and general corporate operations. The company is led by President and CEO Detlef Albrecht, M.D. and is based in Sunnyvale, California. Sorbent Therapeutics is a Sunnyvale, California-based biopharmaceutical company focused on therapies for cardiovascular and renal disorders. Its lead program, CLP1001, is being developed for heart failure. According to the company, the addition of CLP1001 to the treatment regimen in heart failure patients may address fluid overload and the risk of hyperkalemia related to the use of multiple RAAS blockers. The company raised an additional $36m in Series B financing, bringing the total raised in this second round to $53m. The financing was led by new shareholder Novartis Venture Funds with participation from existing backers Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and AgeChem. Sorbent intends to use the funds to complete Phase 2 for CLP1001, and Markus Goebel of Novartis Venture Funds has joined the company's board of directors. Sorbent Therapeutics is developing CLP 1001, a non-absorbed polymer-based drug intended to remove sodium and fluid from patients' gastrointestinal tracts to reduce fluid buildup between dialysis sessions. The drug is designed to be non-systemic and is intended to remove clinically significant amounts of sodium and fluid, with the company hoping to show sodium removal and blood-pressure reduction in trials. The current Series B proceeds will fund a Phase 2 clinical trial of CLP 1001, which is expected to wrap up early next year. Sorbent also plans to investigate alternative delivery formats for CLP 1001 beyond capsules — including gels, suspensions or a chocolate bar-like form. The company additionally has pipeline programs targeting chronic kidney disease, hypertension and congestive heart failure. Company leadership includes co-founder and CEO Donald Joseph and co-founder/CFO William Rajski.

Total raised

$64M

Funding rounds

4

Latest round

Series D

Latest activity

May 2014