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July 28, 2009
Akebia Completes $16M Expansion of Series A Financing
Akebia Therapeutics is a discovery and development company focused on anemia and vascular
disorders. Akebia's lead program, AKB-6548, an orally bioavailable HIF- prolyl hydroxylase
(HIF-PH) inhibitor for patients with anemia, is scheduled to start phase 1 clinical trials in late 2009. The market for chronic anemia drugs, which generates over $10 billion in worldwide sales, is dominated by injectable forms of the recombinant protein growth factor EPO. There are currently no orally dosed small molecule drugs for chronic anemia. AKB-6548 potentially promises to be a safer, less expensive, orally dosed pharmaceutical to stimulate endogenous EPO production. Additionally, Akebia has a novel HPTP-β inhibitor, AKB-9778, for the treatment of vascular leak syndromes and peripheral artery disease which is scheduled to commence phase 1 clinical trials in mid-2010. Akebia recently announced the expansion of its Series A round, bringing the total raised to $25 million. Read more here.
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