R1 Therapeutics has launched with an oversubscribed $77.5 million series A round intended to advance a first-in-class treatment for patients with chronic kidney disease who are on dialysis and experience elevated phosphate levels.
The financing was co-led by F-Prime Capital, Abingworth and DaVita Venture Group, with additional backing from SymBiosis, Curie.Bio, and U.S. Renal Care.
The funding coincides with the newly formed company securing an exclusive worldwide license from China-based Alebund Pharmaceuticals to develop and market a therapy known as AP306. The drug candidate is a pan-phosphate transporter inhibitor being studied as a standalone treatment for hyperphosphatemia, a condition marked by abnormally high phosphorus levels in the bloodstream that can lead to symptoms such as painful muscle spasms, persistent skin irritation, bone discomfort and rashes.
Hyperphosphatemia frequently affects individuals receiving dialysis, of whom there are roughly 500,000 patients in the United States and about 4 million worldwide. It is associated with complications such as bone disorders and cardiovascular disease.
AP306 was initially created by Chugai Pharmaceutical before being licensed to Alebund Pharmaceuticals, and it is expected to move into a phase 2b clinical trial later this year. Alebund reported phase 2a results for the therapy in January last year, showing a meaningful decline in serum phosphate levels along with encouraging safety and tolerability findings.
According to the announcement, AP306 differs from currently approved treatments because it blocks the active transport of phosphate, whereas existing therapies typically reduce phosphate levels by binding to it and limiting passive transport.
R1 noted that patients using currently available phosphate binders – therapies first introduced roughly six decades ago – often struggle with adherence because they require taking large numbers of pills and can cause gastrointestinal side effects, factors that ultimately reduce their effectiveness.
The biotechnology company is headed by co-founder and CEO Krishna Polu, a nephrologist who has advised Abingworth since April and brings more than two decades of experience in the biopharmaceutical sector. Polu pointed to the backing of major kidney care providers DaVita and U.S. Renal Care and said AP306 represents a totally different strategy for addressing hyperphosphatemia.
R1’s AP306 will also seek to avoid the setbacks encountered by earlier treatments for the condition. Last year, Unicycive Therapeutics received a complete response letter from the U.S. Food and Drug Administration while advancing its own hyperphosphatemia therapy for dialysis patients with chronic kidney disease. Regulators cited manufacturing deficiencies at a third-party facility identified during an inspection. The company has since resubmitted its new drug application, and the FDA is expected to issue a decision on or before June 29, 2026.
R1 Therapeutics’ lead investors bring with them substantial financial resources and sector experience. Abingworth became part of The Carlyle Group in 2022, bringing the support of the firm’s nearly $480 billion in assets under management. DaVita Venture Group also has a track record in kidney-focused biotechnology investments – the venture arm previously participated in a $105 million financing round for Pathalys Pharma in 2024.
R1 Therapeutics Secures Major Investment
The $77.5M Series A round highlights strong investor confidence in R1 Therapeutics and its mission. The funding will enable R1 Therapeutics to accelerate research, expand its pipeline, and advance innovative therapies targeting kidney disease.
Focus on Kidney Disease Innovation
R1 Therapeutics is dedicated to addressing unmet needs in kidney disease, a condition affecting millions worldwide. By leveraging advanced scientific approaches, R1 Therapeutics aims to develop more effective and targeted treatments.
Pipeline and Research Strategy
With fresh capital, R1 Therapeutics plans to invest in early-stage research and clinical development. The company is expected to explore novel mechanisms and therapies that could significantly improve patient outcomes.
The launch of R1 Therapeutics comes at a time when there is growing demand for breakthrough treatments in nephrology. R1 Therapeutics could play a key role in shaping the future of kidney disease care.
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