Deerfield leads a $75M round for Akari

Deerfield Management is leading a $75 million round for a new biotech startup dubbed Akari Therapeutics, which was created out of Celsus Therapeutics' recent acquisition of Volution Immuno Pharmaceuticals SA. Their lead drug is Coversin, being developed for complement-mediated disorders in hematology, nephrology, and neurology. Venrock, Vivo Capital, Foresite Capital, New Enterprise Associates, QVT Financial, RA Capital Management and other institutional investors joined in the big round. "We are excited to advance the development of Coversin into several clinical indications," said Gur Roshwalb, Chief Executive Officer of Akari Therapeutics. "We believe that Coversin has potential to be the next and best-in-class C5 complement therapeutic and this financing provides us with the resources to advance our corporate and clinical goals." Release