Akero Therapeutics, Inc., a Cambridge, MA-based biotechnology company focused on treatment of non-alcoholic steatohepatitis (NASH) and other serious metabolic diseases, completed a $65m Series A financing.
The round was co-led by Apple Tree Partners, Atlas Venture, venBio Partners and Versant Ventures.
The company intends to use the funds to advance its lead clinical program AKR-001.
Founded by Apple Tree Partners Jonathan Young, Ph.D., J.D., President and CEO, and Timothy Rolph, D.Phil., Chief Scientific Officer, Akero is advancing new medicines designed to treat serious metabolic diseases by restoring metabolic balance.
The company is developing AKR-001, a novel, long-acting fibroblast growth factor 21 (FGF21) analogue, which was exclusively licensed from Amgen. It plans to initiate Phase 2 clinical studies of AKR-001 for the treatment of NASH and is evaluating its potential to treat additional serious metabolic diseases.