Ohio-based Akebia Therapeutics, a pharmaceutical discovery and development company focused on anemia and vascular disorders, has closed a $22 million Series B Preferred stock financing. The round was led by the company's existing investors: Novartis Venture Fund and Venture Investors, Triathlon Medical Ventures, Kearny Venture Partners, Athenian Venture Partners, Sigvion Capital as well as new investors.

"This is an important financing event for Akebia because it enables us to complete two phase 2b studies for our anemia drug, AKB-6548, and will position the program for pivotal studies," said Joseph Gardner, Ph.D., president and chief executive officer of Akebia. "This financing round also enables us to advance AKB-9778, our novel Tie-2 activator for diabetic macular edema and vascular leak, into the clinic."