Unicycive announces $130M financing to commercialize, launch Renazorb

Unicycive Therapeutics announced that the company has signed a securities purchase agreement with certain healthcare-focused institutional investors that will provide up to $130M in gross proceeds to Unicycive through a private placement that includes initial upfront funding of $30M. The funding is being led by Vivo Capital with participation from RA Capital, BVF Partners, Logos Capital, and is supported by existing investors Nantahala Capital Partners and Rosalind Advisors Inc. In conjunction with the financing, Gaurav Aggarwal, M.D., Managing Director of Vivo Capital, will join the Unicycive Board of Directors. "We are delighted to have the financial backing of both existing and new investors from these high profile, healthcare-focused funds as it provides strong validation of the best-in-class potential for Renazorb and provides funding for its potential commercial launch, if approved. We remain on track to file a New Drug Application for Renazorb marketing approval with the U.S. Food and Drug Administration in mid-year," said Shalabh Gupta, M.D., CEO of Unicycive. EF Hutton, division of Benchmark Investments, acted as the sole placement agent for the offering.