Beverly, Mass. – August 5, 2021 – Akston Biosciences Corporation, a developer of new classes of biologic therapeutics, announced today that the first participants have been dosed in a Phase II open-label trial of AKS-452, its protein subunit COVID-19 vaccine candidate.
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Beverly, Mass., USA & Paris, France – July 21, 2021 – Akston Biosciences Corporation, a developer of new classes of biologic therapeutics, today announced a commercial agreement with Seppic S.A., a supplier of specialty healthcare ingredients, for the supply of adjuvant for use in Akston’s COVID-19 Fc fusion protein vaccine candidate, AKS-452.
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BEVERLY, Mass. – July 08, 2021 – Today, Akston Biosciences Corporation, a developer of new classes of biologic therapeutics, announced positive results from a 60-subject, open-label, Phase I trial of AKS-452, its protein subunit, room temperature stable, COVID-19 vaccine candidate. The vaccine was generally well-tolerated, and produced a 100% conversion rate in the 90 microgram single-dose regimen, as well as the 45 and 90 microgram two-dose regimens.
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Beverly, Mass. – June 4, 2021 – Akston Biosciences has completed its $19.9 million Series F financing, including the conversion of $9.5 million from Notes sold previously. The purchasers included new investors and those who had invested before. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “We appreciate the confidence shown by both our current stockholders and new investors. The proceeds will be used primarily to accelerate the clinical development of AKS-452, our SARS-CoV-2 vaccine.”
Beverly, Mass. – April 12, 2021 – Akston Biosciences Corporation, a developer of new classes of biologic therapeutics, announced today that the first participants have been dosed in an open-label trial of AKS-452, its COVID-19 vaccine candidate. The trial is managed by TRACER Europe B.V., a CRO specializing in fast-track clinical trials; and is being conducted at the University Medical Center Groningen (UMCG), one of the largest hospitals in the Netherlands. It will test both one- and two-dose regimens, each at three-dose levels.
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Photo Credit: Rachel van de Vliert
Akston Biosciences Corporation and Dechra Pharmaceuticals PLC today announced the signing of a licensing and supply agreement for the co-development and commercialization of AKS-425c, a once-a-week, injectable insulin therapy for the treatment of diabetes in cats. The companies expect development to be completed within five years and receive marketing authorizations in the U.S., European Union, and other global markets. The supply agreement calls for Akston to be the exclusive manufacturer of the product to be marketed by Dechra. The multi-million-dollar licensing and development agreement includes payments to Akston on signing, for development milestones, and a royalty on sales. In 2019, the two companies concluded a similar licensing and supply agreement for AKS-321d, a once-a-week insulin therapy for dogs.
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Akston Biosciences and LakePharma, a leading U.S.-based CRDMO serving the biotechnology community with development and production services, announced today that they have established a strategic partnership. LakePharma will manufacture commercial quantities of Akston’s adjuvated COVID-19 vaccine candidate (AKS-452), which is scheduled to begin Phase 1/2 clinical testing later this month. A vaccine for everywhere and everyone in the world, AKS-452 is stable for weeks at room temperature, inexpensive to produce, and suitable for both first-time and booster vaccination.
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TRACER Europe B.V., a Clinical Research Organization (CRO) specializing in fast-track solutions for testing innovative biologic medicines, announced that it will support Akston Biosciences in the Phase 1 clinical testing in the Netherlands of Akston’s lead COVID-19 vaccine candidate, AKS-452. TRACER will provide regulatory services, oversight of local manufacturing contractors as well as Phase 1 Study preparation and clinical site management. Go van Dam, CEO of TRACER, emphasized, “At TRACER we fully understand the urgency for a fast-track development and clinical evaluation of innovative SARS-CoV-2 vaccines. We are highly motivated to support the Akston team to move AKS-452 rapidly into the clinic to test its safety and efficacy.”
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Akston Biosciences announced that it has received a $2.5 million milestone payment from Dechra Pharmaceuticals PLC after the successful completion of Dechra’s Proof of Concept study for AKS-321d, a once-a-week canine insulin therapy. The study was conducted at several private veterinary clinics in the United States. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “Successful completion of the PoC sets in motion the full commercial development of this important new therapy.”
Akston Biosciences received notice that it has been awarded $923,642 in second year funding for a Phase IIb SBIR grant from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH). The funds will be used to support IND-enabling in vivo assay validation and large-animal, safety pharmacology studies for AKS-107, the company’s lead candidate for the prevention of Type 1 Diabetes.
Akston Biosciences has completed its $7.6 million Series E financing, including the conversion of $2.5 million from Notes sold previously. The purchasers included those who had invested in prior rounds and new investors as well. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “The continuing support from our current stockholders is very much appreciated and I am pleased to welcome many new investors as well. We will use the proceeds to continue applying our insulin engineering platform to Type 1 Diabetes prevention as well as ultra-long acting insulins for both human and veterinary applications.”
Akston Biosciences Corporation and Dechra Pharmaceuticals PLC today announced the signing of a licensing and supply agreement for the co-development and commercialization of a patent pending, long acting protein for the treatment of diabetes in dogs. Following an initial upfront payment to Akston of US$2.0 million, there are subsequent milestone payments totaling US$14.0 million due to Akston on the achievement of major milestones in the development process, which should be completed within five years. Under the terms of the agreement Dechra also has the option to license a version for cats, which will be subject to additional milestones.
Dechra’s Chief Executive Officer, Ian Page said: “We are delighted to have secured this major development opportunity which will further enhance Dechra’s position as world leaders in veterinary endocrinology. Once approved this will become the most significant product in our portfolio as we continue to build our portfolio of novel drugs.” Akston’s Chief Executive Officer, Todd Zion said: “We are pleased to have found a strong partner in Dechra to co-develop and commercialize our novel ultra-long acting insulin technology. Once approved, this will become a key asset in our platform of engineered insulin products.” Akston were advised on the transaction by Oriole Advisors.
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The Leona M. and Harry B. Helmsley Charitable Trust has completed an extension of its program-related investment (PRI) with Akston Biosciences to support the process development and GMP manufacturing of AKS-107, the company’s lead diabetes candidate for the prevention of Type 1 Diabetes. As part of the agreement, Helmsley will provide an additional $3.1 million over a two-year period in the form of a loan to advance AKS-107 into a first-in-man clinical trial in 2020. Dr. Todd Zion, Akston’s CEO said, “the Helmsley Charitable Trust has been a critical and early supporter of our Type 1 Diabetes therapeutic program, and we are delighted to see their continued support of our program as we advance our lead candidate into the clinic.”
Akston Biosciences received a Notice of Award from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH) for $978,643 in first year funding for a Phase IIb SBIR grant. The funds will be used to support IND-enabling in vivo assay validation and large-animal, safety pharmacology studies for AKS-107, the company’s lead candidate for the prevention of Type 1 Diabetes.
Akston Biosciences has signed a lease for an additional 14,000 square feet of space at the Cummings Center in Beverly, MA and started construction of a new GMP biologics manufacturing facility, a GMP quality control laboratory, and a large scale process development laboratory. Dr. Todd Zion, Akston’s co-founder, President, and CEO stated, “These new capabilities will enable the production of GMP drug substance to support the clinical and commercial development of our therapeutics. Having our own facilities and implementing all single-use processing will allow us to better manage our manufacturing costs and timelines across our platform of human and veterinary products.”
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.”
Akston Biosciences completed its $3.9 million Series D financing, including the conversion of $1.9 million from Notes sold previously. Purchasers included both those who had invested in prior rounds and new investors. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “I am grateful for the strong support from our current stockholders as well as the confidence shown in Akston by our new investors. We plan to use the proceeds of this round to accelerate the application of our insulin engineering platform to the treatment of diabetes and cancer.”
Akston Biosciences received notice that it has been awarded $998,998 in second year funding for a Phase II SBIR grant from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH). The grant was awarded to support IND-enabling manufacturing development, as well as toxicology and safety pharmacology studies of AKS-107, the company’s lead candidate for the prevention of Type 1 Diabetes.
The Leona M. and Harry B. Helmsley Charitable Trust and Akston Biosciences Corporation today announced a partnership to advance Akston’s novel insulin engineering technology to prevent the clinical onset of Type 1 Diabetes. As part of the agreement, Helmsley will provide up to $3.1 million over the next two years to support manufacturing development, preclinical safety and efficacy testing, and regulatory filings to advance AKS-107 into clinical trials. The partnership is structured as a program-related investment (PRI) in the form of a loan to Akston.
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Akston Biosciences received notice that it has been awarded $998,123 in first year funding for a Phase II SBIR grant from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH). The grant was awarded to support IND-enabling manufacturing development, as well as toxicology and safety pharmacology studies of AKS-107, the company’s lead candidate for the prevention of Type 1 Diabetes. The second year of the Phase II grant provides $998,998 in additional funding.
Akston Biosciences completed its $3.4 million Series C financing, with the size of the round increased to accommodate additional subscription requests. Purchasers included members of the management team, former investors in SmartCells, Inc. as well as members of Angel Healthcare Investors and the Cherrystone Angels. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “I am gratified that all of the outside Series B investors participated in this round and I welcome those that are investing for the first time. We plan to use the proceeds to develop and test candidate materials for Type 1 Diabetes prevention and other applications of our insulin engineering technology.”
Akston Biosciences received notice that it has been awarded $249,821 in funding for a Phase I SBIR grant from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH). The grant was awarded to support investigation of methods for the removal of insulin-specific B-cells to prevent Type 1 diabetes in mice.
Akston Biosciences completed its $1.6 million Series B financing, with the size of the round increased to accommodate additional subscription requests. Purchasers included members of the management team, and former investors in SmartCells, Inc. Dr. Todd Zion, Akston’s co-founder, President and CEO said, “We welcome the first outside investment in our company and particularly the support by former SmartCells shareholders. We plan to use the proceeds to apply our insulin engineering technology to novel approaches for the prevention of Type 1 Diabetes.”
Akston Biosciences completed its initial (Series A) financing, raising $700,000 from the company’s management team.