Clinical stage biopharmaceutical company, Aerpio Therapeutics Inc., is focused on advancing the innovative therapeutic remedies for vascular diseases. It had announced today the successful completion of Phase 1b/2a study for its AKB-9778 treatment for diabetic macular edema. 

The company also closed a new USD9 million extension to the USD27 million Series A funding round it had closed back in 2012. The round was led by Satter Investment Management LLC joined by Novartis Venture Funds, Athenian Venture Partners, Triathlon Medical Ventures, Kearny Venture Partners, Venture Investors LLC and Triathlon Medical Ventures. 

The new proceeds would be going to the support of ongoing development of AKB-9778 alongside an expanded clinical program with a Phase 2 study to confirm monotherapy efficacy. 

According to Satter Investment Management LLC Chairman Muneer Satter, "The additional funding that is now in hand allows us to expand the clinical program for AKB-9778, including greater proof flexibility in our trial design design to obtain proof of concept, both as a monotherapy and as an adjunct with a VEGF inhibitor, in the treatment of DME."