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§ Public · Cincinnati, OH, USA
Biopharmaceutical company develops therapeutics for ocular and vascular conditions, targeting the Tie2 pathway.
Aerpio Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for ocular diseases and vascular conditions, based in Cincinnati, Ohio. The firm primarily researched therapeutics targeting the Tie2 pathway, including its lead drug candidate AKB-9778 for diabetic retinopathy and diabetic macular edema. Before operating as a publicly traded micro-cap biotech with a market capitalization under $20 million, the enterprise raised over $40 million in venture capital from backers including the Novartis Venture Fund. Following Phase 2b clinical trial setbacks in 2019 that halved its share value, the company streamlined operations to preserve its remaining $50 million in cash and ultimately completed a reverse merger with Aadi Bioscience in August 2021 to trade under the ticker AADI. Aerpio Pharmaceuticals was founded in 2011 as a spin-out from Akebia Therapeutics by Joseph Gardner and Mitchell Brigell.
Aerpio Pharmaceuticals has raised $107.0M across 4 funding rounds.
Aerpio Pharmaceuticals has raised $107.0M in total across 4 funding rounds.
Aerpio Pharmaceuticals, Inc. (ARPO) was a clinical-stage biopharmaceutical company focused on developing compounds that activate the Tie2 receptor to treat serious ocular diseases, diabetic macular edema, and other conditions.[1][2][3] Its lead candidates included razuprotafib (a PTPRB/Tie2 inhibitor for diabetic macular edema) and other programs targeting wet age-related macular degeneration and wounds, though many reached only Phase 2 or were discontinued.[4] In 2021, Aerpio entered a definitive merger with Aadi Bioscience, a company developing precision therapies like FYARRO (nab-sirolimus), an mTOR inhibitor for genetically-defined cancers such as advanced malignant PEComa with TSC1/TSC2 alterations; post-merger, Aerpio rebranded as Aadi Bioscience, Inc., shifting focus to Aadi's oncology pipeline.[1]
Aerpio served patients with vascular-related eye diseases and served as a public shell for Aadi's cancer therapies, addressing unmet needs in Tie2 activation for vascular stabilization and mTOR inhibition for rare tumors where standard inhibitors fail due to delivery or safety issues.[1][3] Growth momentum peaked with the merger, enabling Aadi's FYARRO to gain FDA Orphan, Fast Track, and Breakthrough designations, with trials planned for additional indications by late 2021; however, Aerpio's standalone pipeline showed limited commercial traction, reflected in earnings declines and high share issuance.[1][5]
Aerpio Pharmaceuticals was founded in Columbus, Ohio, as a biopharmaceutical firm targeting Tie2 activation for therapeutic applications, though specific founding year and founders are not detailed in available records.[3][4] The company emerged from research into novel small molecules like razuprotafib (targeting PTPRB and Tie2) for diabetic macular edema and ARP-1536 for wet AMD, with early programs starting as far back as 2016.[4] Pivotal moments included advancing candidates to Phase 2 and exploring HIF-PH inhibitors like AKB-4924 for wounds, but many initiatives were discontinued amid challenges in progression.[4]
A defining turning point came in 2021 with the merger agreement with Aadi Bioscience, a clinical-stage firm specializing in mTOR pathway therapies for genetically-defined cancers; this deal provided Aerpio a pathway to public markets while pivoting the combined entity toward Aadi's FYARRO for rare sarcomas.[1]
Aerpio rode the wave of precision oncology and vascular biology trends in biopharma, particularly Tie2 modulators for unmet needs in diabetic retinopathy amid rising diabetes prevalence, and mTOR inhibitors for genetically-defined rare cancers post-merger.[1][2][3] Timing aligned with growing demand for targeted therapies in the 2010s-2020s, fueled by advances in gene sequencing (e.g., TSC1/TSC2 drivers) and nanoparticle delivery like nab-sirolimus, which overcomes pharmacology barriers of earlier mTOR drugs.[1]
Market forces favoring Aerpio included FDA incentives for orphan diseases and the biotech merger boom, allowing public shell access for private innovators like Aadi; this influenced the ecosystem by accelerating FYARRO's path to patients in sarcomas, contributing to the shift toward biomarker-driven cancer treatments.[1]
Post-merger as Aadi Bioscience, the company prioritized FYARRO expansion into TSC1/TSC2 trials by end-2021, with potential for broader mTOR-driven cancers if pivotal data succeeds.[1] Evolving trends like AI-enabled trial design and combination immunotherapies could amplify its precision oncology role, though standalone Aerpio programs highlight risks of pipeline attrition in vascular therapies.[4][5] As biopharma consolidates around high-impact rares, Aadi's trajectory ties back to Aerpio's original Tie2 innovation—proving adaptive platforms can pivot to sustain momentum in competitive landscapes.[1]
Aerpio Pharmaceuticals has raised $107.0M across 4 funding rounds. Most recently, it raised $22.0M Other Equity in April 2014.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 23, 2014 | $22M Venture Round | Chau Khuong | Athenian Venture Partners, DRX Capital, Kearny Venture Partners, Satter Investment Management, Triathlon Medical Ventures, Venture Investors | Announced |
| Apr 1, 2014 | $22M Series C | OrbiMed | Cincy Tech, Athenian Venture Partners, DRX Capital, Kearny Venture Partners, Satter Investment Management, Triathlon Medical Ventures, Venture Investors | Announced |
| Nov 1, 2013 | $36M Series A | Muneer A. Satter | Cincy Tech, Athenian Venture Partners, DRX Capital, Kearny Venture Partners, Triathlon Medical Ventures, Venture Investors | Announced |
| Aug 30, 2012 | $27M Series A | Campbell Murray | Agechem, Athenian Venture Partners, Kearny Venture Partners, Triathlon Medical Ventures, Venture Investors | Announced |
Aerpio Pharmaceuticals has raised $107.0M in total across 4 funding rounds.
Aerpio Pharmaceuticals's investors include Chau Khuong, Athenian Venture Partners, dRx Capital, Kearny Venture Partners, Satter Investment Management, Triathlon Medical Ventures, Venture Investors, OrbiMed, Cincy Tech, Muneer A. Satter, Campbell Murray, AgeChem.