Akari Raises $2 Million to Support Late-Stage Development of Rare Microangiopathy Therapeutic

Rare Daily Staff

Akari Therapeutics closed a private placement financing with existing investors, Akari Chairman Ray Prudo and Director Samir Patel, resulting in gross proceeds of approximately $2 million.

In connection with the financing, Akari issued 947,868 unregistered American Depository Shares (ADSs), each representing 2,000 of the company’s ordinary shares, at a purchase price of $2.11 per ADS.

Akari Therapeutics is developing advanced therapies for autoimmune and inflammatory diseases. The company’s lead asset, investigational nomacopan, is a bispecific recombinant inhibitor of complement C5 activation and leukotriene B4 activity.

Akari’s pipeline includes a phase 3 clinical trial program investigating nomacopan for severe pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy (HSCT-TMA). Akari has been granted Orphan Drug, Fast Track and Rare Pediatric Disease designations from the U.S. Food and Drug Administration for nomacopan for the treatment of pediatric HSCT-TMA and Orphan Drug designation from the European Commission for treatment in hematopoietic stem cell transplantation. Akari’s pipeline also includes a clinical program developing nomacopan for adult HSCT-TMA and pre-clinical research of long-acting PAS-nomacopan in geographic atrophy.