Amgen Backs Small Molecule Drug Firm

Amgen Ventures, the venture capital arm of Thousand Oaks-based Amgen, has backed the developer of a biopharmaceutical aimed at treating irritable bowel syndrome, kidney disease, and diabetes. According to Fremont, California-based Ardelyx, Amgen was a new investor in a $30M, Series B funding round for the company, which also included New Enterprise Associates, CMEA, and individual investors. Ardelyx develops non-absorbed small molecules that act in the intestines to affect systemic functions in the cardio-renal, metabolic, and gastrointestinal fields. The firm's lead compound is RDX6791, being evaluated for treating constipation-predominant irritable bowel syndrome (IBS-C) and in the prevention of excess dietary sodium absorption. More information »