Akebia Therapeutics, Inc., a Cincinnati, OH-based pharmaceutical discovery and development company focused on anemia, has drawn down a $4.1m tranche of its already announced Series B financing (read here).
Investors included Novartis Bioventures, Venture Investors LLC, Triathlon Medical Ventures, Kearny Venture Partners, Athenian Venture Partners, Sigvion Capital and AgeChem Venture Fund.
The company intends to use the funding to complete the Phase 2 study for its lead anemia program, AKB-6548, and to continue the review process to select the right partner for its Phase 3 pivotal studies.
AKB-6548 is an orally bioavailable HIF-prolyl hydroxylase (HIF-PH) inhibitor for patients with anemia, which potentially promises to be a safer, less expensive, orally dosed pharmaceutical to stimulate endogenous EPO production.
Akebia is led by CEO and President Joseph Gardner, Ph.D.