The French pharma paid an undisclosed amount for rights to a preclinical phosphate transport program, one of several non-absorbable drugs that act locally within the gut. The deal comes as market-leading Renagel and Renvela face imminent generic competition.

After a bit of a lull since September, there are seven biotechnology IPOs slated to get out in the next few weeks. But they are entering a tougher market than earlier in 2013, and some may not be quite the same quality.

Relypsa, spun out from Amgen in 2007, has raised a third round of financing in an effort to move its lead compound into late-stage development.