The La Jolla Pharmaceutical Co. has announced that the U.S. Food and Drug Administration has accepted the company’s Investigational New Drug application for patients with a rare life-threatening form of kidney failure.

The company will start a phase I clinical trial for its drug candidate, LJPC-501, in the third quarter of 2013.

The drug helps kidneys balance body fluids and electrolytes in patients with hepatorenal syndrome, commonly seen in patients with liver cirrhosis.

The small publicly traded company has a market capitalization of $2.3 million.

— SDBJ Staff Report