Ardelyx Inc. is wagering up to $90 million that it can bring first-in-class NHE3 inhibitor tenapanor to market on its own despite side-effect concerns seen in a Phase IIb trial for hyperphosphatasia in end-stage renal disease patients on dialysis.
The California biotech is paying $15 million up front to unravel a 2012 partnership with AstraZeneca PLC around tenapanor, which it plans to move into Phase III in constipation-predominant irritable bowel syndrome (IBS-C), while it also will seek
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