Akebia IPO illustrates region’s potential

Story excerpt provided by Cincinnati Enquirer.

Written by Josh Pichler.

There were a lot of happy investors Thursday as shares of local startup Akebia Therapeutics Inc. surged past their $17 offering price and closed at $26.69 on the first day of trading.

The company, which is working to develop and commercialize small molecules that treat anemia, is now headquartered in Boston, but Cincinnati is deep in its DNA.

Its local investors, which include Triathlon Medical Ventures, CincyTech, Blue Chip Venture Co., the Queen City Angels and Fort Washington Capital Partners Group, stand to profit handsomely and can begin selling stock after a 180-day lockup period expires.

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Originally Published Thursday, March 20, 2014.