Novartis' ($NVS) venture arm took the lead in a $27 million A round for a Cincinnati-based biotech spinout focused on a mid-stage treatment for vascular disease. Aerpio Therapeutics, which split off from Akebia late last year, says it will use the money to fund a Phase Ib/IIa study of AKB-9778 for diabetic macular edema as well as a larger Phase II to hopefully nail down its proof-of-concept data.
Venture Investors, Triathlon Medical Ventures, Kearny Venture Partners, Athenian Venture Partners and AgeChem Venture Fund all participated in the round.
The lead drug is designed to inhibit the Human Protein Tyrosine Phosphatase B enzyme, which interferes with signaling from the Tie2 receptor. By inhibiting the negative regulator, investigators say they can overcome the effects of the Ang2-induced vascular destabilization.
Aerpio is run by Joseph Gardner, who also launched Akebia 5 years ago after the company in-licensed three program from P&G, where he had worked 23 years.
"The Tie2 pathway is emerging as a prime target for stabilizing retinal blood vessels against excessive vascular leak and pathologic vascular growth, two major drivers of vision loss in diabetics," says Campbell Murray, the managing director at Novartis BioVentures. "Although VEGF inhibitors have shown application in DME, significant unmet needs remain for these patients. We believe that AKB-9778 could prove to be more effective in DME than currently available therapies, while offering a safety and tolerability profile that is potentially more favorable."
- here's the press release
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