• Sorbent Therapeutics

  Participated · Series D · May 2014

  Sorbent Therapeutics develops non-absorbed polymeric drugs targeting large cardiovascular and renal markets such as heart failure, chronic kidney disease and hypertension. Its lead product, CLP-1001, is a cross-linked polyelectrolyte polymer intended to selectively bind to and remove excess water and sodium in the GI tract. The company completed enrollment of 275 patients in its Phase 2b STEPWISE clinical trial of CLP-1001. Proceeds from the recent financing will support continued development of CLP-1001 and general corporate operations. The company is led by President and CEO Detlef Albrecht, M.D. and is based in Sunnyvale, California. Sorbent Therapeutics is a Sunnyvale, California-based biopharmaceutical company focused on therapies for cardiovascular and renal disorders. Its lead program, CLP1001, is being developed for heart failure. According to the company, the addition of CLP1001 to the treatment regimen in heart failure patients may address fluid overload and the risk of hyperkalemia related to the use of multiple RAAS blockers. The company raised an additional $36m in Series B financing, bringing the total raised in this second round to $53m. The financing was led by new shareholder Novartis Venture Funds with participation from existing backers Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and AgeChem. Sorbent intends to use the funds to complete Phase 2 for CLP1001, and Markus Goebel of Novartis Venture Funds has joined the company's board of directors. Sorbent Therapeutics is developing CLP 1001, a non-absorbed polymer-based drug intended to remove sodium and fluid from patients' gastrointestinal tracts to reduce fluid buildup between dialysis sessions. The drug is designed to be non-systemic and is intended to remove clinically significant amounts of sodium and fluid, with the company hoping to show sodium removal and blood-pressure reduction in trials. The current Series B proceeds will fund a Phase 2 clinical trial of CLP 1001, which is expected to wrap up early next year. Sorbent also plans to investigate alternative delivery formats for CLP 1001 beyond capsules — including gels, suspensions or a chocolate bar-like form. The company additionally has pipeline programs targeting chronic kidney disease, hypertension and congestive heart failure. Company leadership includes co-founder and CEO Donald Joseph and co-founder/CFO William Rajski.

• Akebia Therapeutics

  Participated · Series C · Jun 2013

  Akebia Therapeutics is a fully integrated biopharmaceutical company focused on developing vadadustat, an investigational therapy for anemia in patients on dialysis. The company says vadadustat is under FDA review, with a potential decision noted for March 27, 2024. Akebia secured a $55 million term loan facility to strengthen liquidity around that regulatory milestone. The arrangement provides $37.0 million immediately and an additional $18.0 million contingent on FDA approval of vadadustat. The financing includes an extended interest-only period and deferred principal repayment, which reduces near-term cash outflows. Management frames the facility as enabling the company to navigate pre- and post-approval activities, including potential commercialization efforts. The deal increases financial leverage and creates eventual repayment obligations tied to the company’s future regulatory and commercial outcomes. Akebia Therapeutics is developing AKB-6548, an orally available hypoxia‑inducible factor prolyl hydroxylase (HIF‑PH) inhibitor intended to treat anemias secondary to chronic kidney disease (CKD) and end‑stage renal disease. The compound is positioned as a potentially safer, orally dosed alternative to injectable erythropoiesis stimulating agents (ESAs) by stimulating endogenous EPO via HIF2α stabilization. In a 93‑patient, 42‑day Phase 2a CKD trial AKB-6548 produced a statistically significant, dose‑related increase in hemoglobin with a safety profile comparable to placebo and low iron requirements. Akebia plans a 140‑day Phase 2b CKD trial expected to begin in the third quarter and intends to use new financing over the next 18 months to complete studies and prepare AKB-6548 for Phase 3. The company was spun out of Procter & Gamble Pharmaceuticals in 2007 and is based in Cincinnati, Ohio. No revenue or user metrics were disclosed in the article. Akebia Therapeutics is a discovery and development company focused on treatments for chronic anemia. Its lead program, AKB-6548, is an orally bioavailable HIF-prolyl hydroxylase (HIF-PH) inhibitor currently in Phase 2 clinical trials. AKB-6548 is described as potentially best-in-class, offering potential advantages including an improved safety profile, once-daily oral dosing, and lower cost of goods versus traditional erythropoiesis stimulating agents. The company drew down a $4.1 million tranche of a previously announced Series B financing to enable completion of the Phase 2 study and to continue the process of selecting a partner for Phase 3 pivotal studies. The tranche was provided by a syndicate of life-science investors. Separately, Akebia spun out two programs—AKB-9778 (Tie-2 activator) and AKB-4924 (HIF-1α stabilizer)—to form a new stand-alone company, Aerpio Therapeutics. Akebia Therapeutics is a Cincinnati, OH–based pharmaceutical discovery and development company focused on anemia and vascular disorders. Its lead anemia program is AKB-6548, which the company says offers potential advantages over traditional erythropoiesis-stimulating agents, including an improved safety profile, oral dosing and lower cost of goods. The financing announced enables Akebia to complete two Phase 2b studies of AKB-6548 and to position that program for pivotal studies. Akebia also plans to advance AKB-9778, a novel Tie-2 activator for diabetic macular edema and vascular leak, into the clinic. The company closed a $22m Series B with a $14m first closing and the right to access an additional $8m through the end of 2011, which funds these near-term clinical plans. Akebia Therapeutics was formed by Joseph Gardner and John Rice to commercialize therapies acquired from Procter & Gamble and focuses on small-molecule drug discovery and development. Its lead candidate is AKB-6548, an oral erythropoietin-stimulating drug intended to treat chronic anemia. The company reported positive Phase 1 results in 33 healthy volunteers, showing increased erythropoietin and reticulocytes and good tolerability. Akebia plans to move into Phase 2 clinical trials for AKB-6548 and is evaluating partnering with a large pharmaceutical company or pursuing additional fundraising to complete development. Financially, the company recently completed a second closing that boosted a previously announced financing to $17 million. Management expects market opportunities due to safety concerns with existing injectable ESAs and potential expansion of the treated patient population if oral agents prove safer and easier to use.

• Alethia BioTherapeutics

  Participated · Equity · Nov 2012

  Alethia Biotherapeutics is a biotechnology company based in Montréal, Québec, focused on developing therapeutic monoclonal antibodies. Founded in 2002, the company uses its patented STAR discovery technology to identify novel, clinically relevant targets and has built a pipeline that includes Siglec-15, a regulator of osteoclast differentiation and function. Management is led by Yves Cornellier (President & CEO) and Dr. Mario Filion (CSO). Its lead bone antiresorptive candidate is AB-25E9. The company plans to use proceeds from its recent financing to advance AB-25E9 into the studies required to submit an IND. The financing was reported at $4.7M to support those development activities. Alethia Biotherapeutics is focused on discovering tissue-specific disease targets and developing monoclonal antibodies as focused therapeutics. The company uses a discovery and validation platform to identify novel disease-specific targets. Its most advanced program targets the secreted factor clusterin, implicated in tumor progression; the lead antibody enhanced chemotherapeutic response and inhibited metastatic invasion in animal studies. In ovarian cancer Alethia is developing an antibody against KAAG-1, which is over‑expressed in more than 90% of ovarian tumors. Alethia closed a C$9.6m financing and will use the new capital to advance its lead pre-clinical programs into clinical development over the next 18 months.

• Aerpio Pharmaceuticals

  Participated · Series A · Aug 2012

  Aerpio Therapeutics is a clinical‑stage biopharmaceutical company focused on small‑molecule therapies that activate Tie2 and stabilize HIF‑1α. Its lead program, AKB‑9778, is a first‑in‑class Tie2 activator currently in a randomized Phase 2 trial for diabetic macular edema (DME). The Phase 2 study is testing AKB‑9778 as monotherapy and as an adjunct to ranibizumab with primary endpoints of change in visual acuity and central retinal thickness. Aerpio is also advancing AKB‑4924, a HIF1 activator, toward clinical development for inflammatory bowel disease after robust preclinical activity in models of ulcerative colitis and Crohn’s disease. Proceeds from the recent financing will support expanded development of AKB‑9778 and progression of AKB‑4924 into the clinic. The company announced the financing from Cincinnati and expects to initiate development in a second target indication before year end. Aerpio Therapeutics is focused on developing Tie2-activating small molecules, with lead candidate AKB-9778 targeting diabetic macular edema (DME). AKB-9778 inhibits human protein tyrosine phosphatase β (HPTPβ) to restore Tie2 signaling, stabilizing retinal blood vessels to reduce edema and vascular leak. A 28-day Phase 1b/2a ascending-dose study in 24 DME patients showed AKB-9778 was well tolerated and produced meaningful changes in retinal thickness and vision gain in some treated patients. The company plans an expanded clinical program, including a Phase 2 study to confirm monotherapy efficacy and to explore adjunctive use with a VEGF inhibitor; a Phase 2 was expected to begin early in 2014. Financially, Aerpio completed a $9 million extension to its $27 million Series A from 2012 to support ongoing development. The company announced corporate activity including investor participation and a board change tied to the financing. Aerpio Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies that stabilize vasculature via Tie2 activation and HIF-1α stabilization. The company's lead candidate, AKB-9778, is a first-in-class small molecule that inhibits HPTPβ to restore Tie2 signaling. AKB-9778 showed tolerability and on-target pharmacology in a Phase 1 healthy volunteer study and is entering a Phase 1b/2a trial for diabetic macular edema (DME). Aerpio plans a large, definitive Phase 2 study in DME patients following completion of the Phase 1b/2a study. The company cites potential utility of Tie2 activators in age-related macular degeneration and retinal vein occlusion but is currently focused on DME. Aerpio was created in a spin-out transaction from Akebia Therapeutics in December 2011 and is based in Cincinnati.

• Conatus Pharmaceuticals

  Led · Series B · Feb 2011

  Conatus Pharmaceuticals is a San Diego biotech company focused on developing therapies for liver disease and cancer. Its lead development candidate is CTS-1027, a clinical-stage drug licensed from F. Hoffmann-LaRoche Ltd that is the subject of multiple Phase 2 trials in hepatitis C patients. The company recently obtained a $7.5 million follow-on investment from MPM Capital. That investment brings total invested capital to $32.5 million. Conatus said it will use the funds to advance clinical development of CTS-1027 and to proceed with trials started in January. The financing also supports evaluation of compounds the company acquired last year with Idun Pharmaceuticals. Conatus Pharmaceuticals is a San Diego biopharmaceutical company focused on developing human therapeutics for liver disease and oncology. The company closed a $20M Series B financing that will remain open while other potential investors conclude diligence. Proceeds will be used to advance the clinical development of CTS-1027, a clinical-stage drug candidate licensed from F. Hoffman-La Roche, Ltd. CTS-1027 is the subject of multiple Phase 2 clinical trials in HCV-infected patients. The round was led by new investor AgeChem Venture Fund with participation from Aberdare Ventures, Advent Venture Partners, Bay City Capital, Gilde Healthcare Partners and Roche Venture Fund. Louis Lacasse from AgeChem will join the company’s board alongside CEO Steven J. Mento and other existing board members. Conatus was founded in July 2005 by the executive management team of Idun Pharmaceuticals following Idun’s sale to Pfizer. Conatus Pharmaceuticals is a San Diego developer focused on drugs for inflammation and liver disease. Its lead compound is CTS-1027, which the company licensed from Roche last November. The funding will support mid-stage clinical trials of CTS-1027. The first trial, in hepatitis C patients, is expected to begin by the end of this year. Conatus was founded in mid-2005 by former executives of Idun Pharmaceuticals after Pfizer acquired that company. The company completed a financing that increases resources available to advance its clinical program.

No current team members are available.