Akero Therapeutics Raises $70M in Financing

Akero-LogoAkero Therapeutics, Inc., a San Francisco, CA-based biotechnology company developing transformational treatments for non-alcohol steatohepatitis (NASH) and other serious metabolic diseases, closed $70m in Series B financing.

The round was led by Janus Henderson Investors, with participation from new investors Redmile Group, Boxer Capital of Tavistock Group, Cormorant Asset Management, BVF Partners, Rock Springs Capital, and LifeSci Venture Partners, along with existing investors Apple Tree Partners, Atlas Venture, venBio Partners and Versant Ventures.

Led by Andrew Cheng, MD, PhD, president and CEO, and Kitty Yale, Chief Development Officer, Akero Therapeutics is advancing new medicines designed to treat serious metabolic diseases by restoring metabolic balance.

The company intends to use the funds for the advancement of its lead clinical candidate AKR-001, a novel, long-acting fibroblast growth factor 21 (FGF21) analog, through Phase 2 clinical development in patients with non-alcoholic steatohepatitis (NASH), for scaling manufacturing capabilities, and for the expansion of its therapeutic pipeline in metabolic disease.




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