Akebia Therapeutics Acquires Q32 Bio's ADX-097 for Rare Kidney Disease Pipeline

Akebia Therapeutics has announced a significant deal with Q32 Bio, acquiring the complement inhibitor ADX-097 for $12 million upfront. This acquisition marks a strategic move for Akebia as it builds its rare kidney disease pipeline, while providing Q32 Bio with additional funds to focus on its alopecia areata program.

Deal Structure and Financial Terms

Akebia will pay an initial $7 million to Q32 Bio, with an additional $5 million guaranteed over the next year. The agreement includes potential milestone payments totaling $580 million, with $92.5 million tied to development and regulatory achievements and $487.5 million linked to commercial success.

The financial boost from this deal will extend Q32 Bio's cash runway into the second half of 2027, compared to the previous projection of the second half of 2026. This extension provides crucial support for Q32's ongoing development of bempikibart in alopecia areata, with Phase 2 data expected in mid-2026.

Strategic Implications for Both Companies

Akebia's Expansion in Rare Kidney Diseases

Akebia's acquisition of ADX-097 is part of a broader strategy to build a robust rare kidney disease pipeline. The company plans to initiate a Phase 2 basket trial evaluating the complement inhibitor across multiple rare kidney disease indications in 2026. This move comes in the wake of setbacks to Akebia's approved drug Vafseo, highlighting the company's efforts to diversify its portfolio.

In addition to ADX-097, Akebia is preparing to launch a Phase 2 trial of praliciguat in focal segmental glomerulosclerosis. Praliciguat, an sGC stimulator licensed from Cyclerion Therapeutics in 2021, recently received FDA clearance for clinical trials after unexpected delays in preparation.

Q32 Bio's Strategic Refocus

For Q32 Bio, the sale of ADX-097 represents a strategic pivot following the company's decision to deprioritize its complement inhibitor program earlier this year. The biotech had previously halted a Phase 2 renal basket clinical trial of ADX-097 to conserve resources for its alopecia areata program.

Q32 Bio continues to evaluate options for the remainder of its tissue-targeted complement inhibitor platform, including ADX-096, a C3d mAb—CR1 fusion protein that has shown promise in preclinical tests for eye indications.