Aerpio Announces Successful Completion of Phase 1b/2a Trial in Diabetic Macular Edema and $9 Million Series A Extension

CINCINNATI--(BUSINESS WIRE)--Aerpio Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on advancing innovative therapies for vascular diseases, today announced the successful completion of its Phase 1b/2a study of AKB-9778 for the treatment of diabetic macular edema (DME) and the closing of a new $9 million extension to the $27 million Series A raised in 2012. The financing round was led by Satter Investment Management LLC and joined by Novartis Venture Funds, Kearny Venture Partners, Venture Investors LLC, Triathlon Medical Ventures, and Athenian Venture Partners. Proceeds will support ongoing development of AKB-9778, including an expanded clinical program with a Phase 2 study to confirm monotherapy efficacy and explore adjunctive efficacy with a VEGF inhibitor in DME patients. Muneer Satter, Chairman of Satter Investment Management LLC, will become co-chairman of the Aerpio board with the completion of this financing.

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