Triathlon Medical Ventures

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Akebia Therapeutics gets thumbs up from clinical trial, investors

Updated 6:47 p.m. Small molecule discovery and development company Akebia Therapeutics Inc. reported positive results from a second Phase 1 clinical trial of its anemia drug, as well as the second closing of a $16 million financing round announced almost a year ago, boosting the round to $17 million. Startup Akebia is racing to the […]

Hospitals

Tolera Therapeutics gets $4M for organ transplant rejection drug

Cleveland Clinic spinoff Tolera Therapeutics Inc. has raised more than $4 million in equity to continue developing a drug that fights organ rejection in transplant patients, according to a regulatory filing with the Securities and Exchange Commission. The Series B funding will go toward a Phase 2 clinical trial of Tolera’s lead drug candidate, TOL101, […]

Hospitals

Upwind Medical Partners to create $8 million early stage fund

Another day, another new local early stage fund. Upwind Medical Partners is launching a $6 million to $8 million early stage fund that will focus on commercializing intellectual property from health care/research institutions like the University of Minnesota, Wisconsin Alumni Research Fund (WARF), Allina Hospitals & Clinics, and John Hopkins Hospital in Baltimore. Founded by […]

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Ohio Third Frontier likely to repay taxpayers, investors by 2014, commissioner says

The Ohio Third Frontier program is likely to pay for itself by 2014 with income and sales taxes generated by organizations receiving its grants, according to an analysis led by business people on the program's commissioners and advisers. Third Frontier is the $1.6 billion, 10-year program to develop Ohio's technology economy -- largely with taxpayer money -- through industries including biomedical.

News

Cardiovascular biopharma Akebia takes additional funding to develop 2 drugs

The company stated it raised additional money to ensure the development of two of its drugs. Akebia plans later this year to start Phase I clinical trials on an oral medication designed to create new red blood cells in anemia patients. In addition, it wants to establish a human clinical proof of concept for a second drug that prevents vascular leak syndrome, in which blood components leak out of veins and into other systems -- a side effect of some cancer treatments.