Aerpio Therapeutics, Inc., a Cincinnati, OH-based clinical-stage biopharmaceutical company focused on advancing innovative therapies for vascular diseases, completed a new $9m extension to its $27m Series A raised in 2012 (read here).
The round was led by Satter Investment Management LLC with participation from Novartis Venture Funds, Kearny Venture Partners, Venture Investors, Triathlon Medical Ventures, and Athenian Venture Partners. In conjunction with the funding, Muneer Satter, Chairman of Satter Investment Management LLC, will become co-chairman of Aerpio’s board.
The company intends to use the funds for ongoing development of AKB-9778, for the treatment of diabetic macular edema (DME), including an expanded clinical program with a Phase 2 study to confirm monotherapy efficacy and explore adjunctive efficacy with a VEGF inhibitor in DME patients.
Aerpio is led by Kevin Peters, MD, Chief Scientific Officer, and William Daly, Chief Business Officer.