Palladio Biosciences, a five-year-old clinical-stage biopharmaceutical company that develops medicines for kidney diseases, recently announced that it had raised a Series B round of fundraising for $20 million.

CEO Alex Martin said the Horsham-based company is focusing on developing its lead candidate, lixivaptan, for the treatment of ADPKD, an orphan disease that can impact many generations of a family.

The financing was led by new investor Samsara BioCapital and included participation from another new investor, Roche Venture Fund. Existing investors Medicxi and Osage University Partners also participated. Proceeds from the financing will fund Palladio’s Phase 3 ALERT Study, which is designed to assess the safety of the drug in ADPKD patients who showed liver chemistry abnormalities or other signs of liver toxicity while taking tolvaptan, the only drug currently approved in the U.S. for the treatment of ADPKD.

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