Akebia Therapeutics has struck a deal for Q32 Bio’s deprioritized complement inhibitor ADX-097, paying $7 million upfront for an asset that forms the centerpiece of its new rare kidney disease pipeline.
Q32 hung a for-sale sign on ADX-097 in February. Needing cash for an alopecia areata trial, the biotech stopped a phase 2 renal basket clinical trial of the drug candidate and began evaluating strategic options for its tissue-targeted complement inhibitor platform. In Akebia, Q32 has found a buyer for its C3d-Factor H fusion protein complement inhibitor ADX-097.
Akebia is paying $7 million upfront and guaranteeing another $5 million to buy ADX-097. Q32 will receive $3 million six months after the deal closes and the final $2 million slice of the guaranteed payments by the end of next year.
The deal features $580 million in milestones, most of which are tied to sales of ADX-097. Akebia is on the hook for up to $92.5 million related to development and regulatory milestones. The remaining $487.5 million in potential paydays for Q32 are related to commercial milestones.
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Akebia framed the deal as part of its construction of a rare kidney disease pipeline, which is happening in the aftermath of a setback to its approved drug Vafseo. The biotech plans to run a phase 2 basket trial to evaluate the complement inhibitor in multiple rare kidney disease indications. Akebia aims to start the study next year.
The trial is one of two Akebia rare kidney disease studies that could start dosing patients next year. The other study is a phase 2 trial of praliciguat in focal segmental glomerulosclerosis. Akebia licensed the sGC stimulator from Cyclerion Therapeutics in 2021. Preparations to make praliciguat for use in clinical trials took longer than expected, but Akebia now has FDA clearance to run a phase 2 study.
For Q32, the deal provides a cash boost to fund development of bempikibart in alopecia areata. While bempikibart failed a phase 2b eczema study, Q32 has cut back in other areas to advance the anti-IL-7R antibody in alopecia. The sale of ADX-097 will extend Q32’s cash runway into the second half of 2027, compared to the second half of 2026 without the deal. Phase 2 alopecia data are due in mid-2026.
With Akebia only buying ADX-097, Q32 is continuing to evaluate options for the rest of its tissue-targeted complement inhibitor platform. The remaining assets include ADX-096, a C3d mAb—CR1 fusion protein that has undergone preclinical tests in eye indications.
