Date: 2018-06-25
Type of information: Series A financing round
Company: Akero Therapeutics (USA - MA)
Investors: Apple Tree Partners (USA - NY) Atlas Venture (USA - MA) venBio Partners (USA - CA) Versant Ventures (USA - CA)
Amount: $65 Million
Funding type: series A financing round
Planned used:
- The financing will be used to advance Akero’s lead clinical program AKR-001, a novel, long-acting fibroblast growth factor 21 (FGF21) analogue. Research over the past decade has demonstrated that the endogenous hormone FGF21 plays a critical role in the regulation of metabolism and signaling throughout the body, acting on multiple organ systems including the liver. It is recruited naturally to protect against cellular stress and restore metabolic balance. AKR-001 is a modified Fc-FGF21 fusion protein that has substantially improved stability and half-life compared to native FGF21, with enhanced receptor binding and activity.
- AKR-001 was exclusively licensed from Amgen and was shown to be well tolerated in early clinical studies, with dose-dependent positive effects on key biomarkers of metabolic and cardiovascular disease.
- Akero 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.
Others:
- • On June 25, 2018, Akero Therapeutics, a biotechnology company focused on transforming the treatment of non-alcoholic steatohepatitis (NASH) and other serious metabolic diseases, announced the completion of a $65 million Series A financing. The round was co-led by Apple Tree Partners, Atlas Venture, venBio Partners and Versant Ventures. Akero was founded by Apple Tree Partners.
- The Akero Board of Directors includes Jonathan Young, President and CEO; Aaron Kantoff, Principal at Apple Tree Partners; Kevin Bitterman, Partner at Atlas Venture; Aaron Royston, Partner at venBio Partners; and Graham Walmsley, Principal at Versant Ventures.
Therapeutic area: Liver diseases - Hepatic diseases
Is general: Yes
