STAT+: Akero team, backed by Fairmount, launches new immunology company

A group of former executives from Akero Therapeutics, which was acquired by Novo Nordisk, has launched a new biotechnology company focused on immunology. The new entity, named Avere Therapeutics, is backed by Fairmount, a prominent investment firm known for creating successful biotech firms. The initiative centers on developing a long-acting immunology drug originally sourced from a Chinese company. The leadership of Avere Therapeutics includes Andrew Cheng, Kitty Yale, and William White, who previously managed Akero Therapeutics and were responsible for developing a treatment for non-alcoholic steatohepatitis (MASH). That drug was later sold to Novo Nordisk for $5 billion. With their experience in drug development and commercialization, the trio aims to bring forward an oral IL-23-targeted therapy designed to treat conditions such as psoriasis and ulcerative colitis. Fairmount, a well-established player in the biotech investment space, has played a key role in supporting the formation of Avere Therapeutics. Known for its track record in fostering innovative biotech ventures, the firm's involvement underscores the potential of the new company's therapeutic approach. The partnership between the former Akero team and Fairmount highlights a strategic move to capitalize on advancements in immunology and address unmet medical needs in inflammatory diseases. The new drug being developed by Avere Therapeutics is based on technology originating from a Chinese pharmaceutical company. While specific details about the origin of the drug and its current stage of development have not been disclosed, the focus on an oral formulation suggests a commitment to improving patient convenience and adherence. IL-23 inhibitors have shown promise in clinical trials for treating autoimmune disorders, making them a compelling target for further research and development. The decision to form Avere Therapeutics comes amid growing interest in immunology-based therapies. As the field continues to evolve, there is increasing recognition of the importance of targeting immune pathways to manage chronic inflammatory conditions. This shift reflects broader trends in the pharmaceutical industry toward personalized medicine and more targeted treatment strategies. Looking ahead, Avere Therapeutics is expected to advance its pipeline through preclinical and clinical studies, with the ultimate goal of bringing a novel therapy to market. The success of the new company will depend on factors such as regulatory approvals, competitive landscape, and the efficacy of the drug in clinical trials. As the biotech sector continues to innovate, the emergence of Avere Therapeutics represents another step forward in the pursuit of better treatments for immunological diseases.