Cincinnati biopharma company nets $22M investment

Story excerpt provided by Cincinnati Business Courier.

Written by Andy Brownfield.

Cincinnati clinical-stage biopharmaceutical company Aerpio Therapeutics Inc., announced Wednesday it has closed a $22 million round of funding.

The round was led by new investor OrbiMed and joined by Novartis Venture Funds, Satter Investment Management, Kearny Venture Partners, Venture Investors, Triathlon Medical Ventures and Athenian Venture Partners.

The $22 million will support the expanded development of a small molecule activator called AKB-9778 used to treat diabetic macular edema. It will also be used to advance another activator, called AKB-4924, into clinical development for inflammatory bowel disease.

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Originally published April 23, 2014.

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