Akebia Therapeutics, Inc.

Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company focused on developing and commercializing therapeutics for patients impacted by kidney disease. The company has two commercial products. Chronic kidney disease (CKD) is a condition where kidneys are progressively damaged, leading to waste buildup and other health problems like anemia, cardiovascular disease, and bone disease. CKD potentially affects approximately 35.5 million patients in the U.S. In 2022, treating Medicare beneficiaries with CKD in the U.S. cost an estimated $95.7 billion, and treating people on dialysis cost an estimated $45.3 billion. Akebia Therapeutics' two commercial products address certain complications of kidney disease. Its current product portfolio includes Vafseo (vadadustat), an orally administered medicine approved by the U.S. Food and Drug Administration (FDA) in March 2024. Vafseo is indicated for the treatment of anemia due to CKD in adult patients on dialysis for at least three months. The current U.S. market opportunity for treating anemia due to CKD in dialysis patients is approximately $1 billion, based on current erythropoiesis stimulating agent (ESA) pricing. Vafseo is the only oral hypoxia inducible factor (HIF) based treatment available in the U.S. Vafseo entered the market in January 2025, at which time Akebia Therapeutics had commercial supply agreements for Vafseo with dialysis organizations caring for nearly 100% of dialysis patients in the U.S.