Sorbent Therapeutics has drawn down the first $6.5 million tranche of a $15 million venture round to finance a Phase IIb trial of its experimental heart therapy. The Sunnyvale, CA-based biotech also says it finished enrolling 275 patients in the Phase IIb study, which will test CLP-1001.
The therapy is described as a polyelectrolyte polymer which can soak up and flush out excess fluids and sodium that build up in a large percentage of heart failure patients, who are threatened by the pressure put on key organs. Investigators in the study have come up with a composite of endpoints ranging from a 6-minute walk test to the time until a patient is hospitalized or dies.
"CLP-1001 has shown great promise in alleviating the negative impact of fluid overload in heart failure patients as demonstrated in our prior Phase IIa clinical trial. We look forward to reporting data from the STEPWISE trial later this year," said Sorbent CEO Dr. Detlef Albrecht.
Existing investors CMEA Capital, ARCH Venture Partners, Sofinnova Ventures, AgeChem and Novartis Venture Funds all participated in the latest round.
- here's the release