Akston Biosciences Completes Convertible Note Financing

Akston Biosciences completed a new $2.5 million convertible note financing, with the size increased to accommodate additional subscription requests and a majority of purchasers being existing shareholders. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “We will use these funds to accelerate development of AKS-107, our lead candidate for diabetes prevention, into IND-enabling preclinical safety studies and GMP manufacturing as we prepare for our first-in-man trial scheduled to begin late next year.”