Akero Therapeutics raises $70 million for NASH FGF21 analogue

Akero Therapeutics completed a $70 million Series B financing to support the advancement of the company’s lead clinical candidate, AKR-001, a novel long-acting fibroblast growth 21 analogue for the treatment of nonalcoholic steatohepatitis, according to a press release.

“The breadth and strength of our investor syndicate is a reflection of the enthusiasm for Akero’s focus on metabolic disease, and the potential of our lead asset to address liver pathology in patients with NASH,” Andrew Cheng, MD, PhD, president and CEO of Akero Therapeutics, said in the release.

The financing was led by Janus Henderson Investors with investment from Redmile Group, Boxer Capital of Tavistock Group, Cormorant Asset Management, BVF Partners, Rock Springs Capital, LifeSci Venture Partners, Apple Tree Partners, Atlas Venture, venBio Partners and Versant Ventures.

AKR-001 has previously demonstrated reproduction of native FGF21 and improved insulin sensitivity among patients with diabetes type 2.

The funds will support phase 2 clinical trials of AKR-001 set to begin in mid-2019, scaling of the company’s manufacturing capabilities, and expansion of the company’s therapeutic pipeline for metabolic diseases.

Reference: www.akerotx.com