Akebia Therapeutics Appoints Erik Ostrowski as Chief Financial Officer and Chief Business Officer

Rhea-AI Summary

Akebia Therapeutics, a biopharmaceutical company focusing on kidney disease treatments, announced the appointment of Erik Ostrowski as Senior Vice President, Chief Financial Officer, and Chief Business Officer.

Mr. Ostrowski, an experienced biotech executive, joins Akebia from Avrobio, where he played a key role in its merger with Tectonic Therapeutic. Previously, he was instrumental in the IPO of Summit Therapeutics and served on the Board of Directors of Faron Pharmaceuticals.

CEO John P. Butler expressed confidence in Ostrowski's leadership, emphasizing the company's strong financial position as it launches Vafseo® (vadadustat) Tablets.

Ostrowski holds degrees from Babson College and the University of Chicago Booth School of Business. He expressed enthusiasm about joining Akebia, highlighting its established revenue-generating business and promising pipeline.

Positive

• Appointment of experienced executive Erik Ostrowski as CFO and CBO.
• Ostrowski's proven track record in biotech leadership and mergers.
• Strong financial position highlighted during Vafseo® (vadadustat) Tablets launch.
• Ostrowski's experience in IPO and corporate finance expected to add significant value.

Negative

• No significant negative aspects reported in the press release.

CAMBRIDGE, Mass., June 24, 2024 /PRNewswire/ -- Akebia Therapeutics^®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced the appointment of Erik Ostrowski as Senior Vice President, Chief Financial Officer and Chief Business Officer. Mr. Ostrowski is an experienced biotech executive with a diverse background spanning industry leadership roles, board service and investment banking.

"We are pleased to welcome Erik to Akebia as he brings proven leadership experience across a broad range of critical functions. He will be an important addition to our experienced leadership team," said John P. Butler, Chief Executive Officer of Akebia. "We are executing the Vafseo® (vadadustat) Tablets launch from a solid financial position. Erik's ability to manage all aspects of corporate finance, as well as his track record in leading corporate development and strategic transactions, we believe will enable us to create significant value for our stakeholders."

Mr. Ostrowski joins Akebia from Avrobio, where he served as President, Interim Chief Executive Officer and Chief Financial Officer, leading the execution of its merger with Tectonic Therapeutic. Prior to Avrobio, Mr. Ostrowski was Chief Financial Officer of Summit Therapeutics where he led its initial public offering on Nasdaq. He was recently Chair of the Audit Committee of the Board of Directors of Faron Pharmaceuticals. Mr. Ostrowski also spent over ten years in investment banking including at Leerink Partners and Robertson Stephens. Mr. Ostrowski earned his bachelor's degree in accounting and economics from Babson College and an MBA from the University of Chicago Booth School of Business.

"I am incredibly excited to join the Akebia team during this transformational time for the company," said Mr. Ostrowski. "With its new product launch, established revenue-generating business and promising pipeline, Akebia is well-positioned for growth, and I look forward to contributing to its future success."

About Akebia Therapeutics
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts. For more information, please visit our website at www.akebia.com, which does not form a part of this release.

Forward-Looking Statements
Statements in this press release regarding Akebia Therapeutics, Inc.'s ("Akebia's") strategy, plans, prospects, expectations, beliefs, intentions and goals are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, and include, but are not limited to, statements regarding: Akebia's execution of the Vafseo (vadadustat) Tablets launch from a solid financial position, including its belief about its ability to create significant value for its stakeholders; Akebia's promising pipeline and that it is well-positioned for growth. The terms "intend," "believe," "plan," "goal," "potential," "anticipate, "estimate," "expect," "future," "will," "continue," derivatives of these words, and similar references are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various risks, uncertainties and other factors, including, but not limited to, risks associated with: whether Vafseo will be commercially available when expected; the potential demand and market potential and acceptance of, as well as coverage and reimbursement related to, Auryxia® and Vafseo, including estimates regarding the potential market opportunity; the competitive landscape for Auryxia and Vafseo, including potential generic entrants; the ability of Akebia to attract and retain qualified personnel; Akebia's ability to implement cost avoidance measures and reduce operating expenses; decisions made by health authorities, such as the FDA, with respect to regulatory filings; the potential therapeutic benefits, safety profile, and effectiveness of Vafseo; the results of preclinical and clinical research; the direct or indirect impact of the COVID-19 pandemic on the markets and communities in which Akebia and its partners, collaborators, vendors and customers operate; manufacturing, supply chain and quality matters and any recalls, write-downs, impairments or other related consequences or potential consequences; and early termination of any of Akebia's collaborations. Other risks and uncertainties include those identified under the heading "Risk Factors" in Akebia's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, and other filings that Akebia may make with the U.S. Securities and Exchange Commission in the future. These forward-looking statements (except as otherwise noted) speak only as of the date of this press release, and, except as required by law, Akebia does not undertake, and specifically disclaims, any obligation to update any forward-looking statements contained in this press release.

Akebia Therapeutics® and Vafseo® are registered trademarks of Akebia Therapeutics, Inc. and its affiliates.

Akebia Therapeutics Contact
Mercedes Carrasco
mcarrasco@akebia.com

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SOURCE Akebia Therapeutics, Inc.

FAQ

Who has Akebia Therapeutics appointed as Chief Financial Officer and Chief Business Officer?

Akebia Therapeutics has appointed Erik Ostrowski as Chief Financial Officer and Chief Business Officer.

What is Erik Ostrowski's background before joining Akebia Therapeutics?

Erik Ostrowski was previously at Avrobio, where he served as President, Interim CEO, and CFO, and he played a key role in its merger with Tectonic Therapeutic.

What recent product launch is Akebia Therapeutics focusing on?

Akebia Therapeutics is focusing on the launch of Vafseo® (vadadustat) Tablets.

What is the stock symbol for Akebia Therapeutics?

The stock symbol for Akebia Therapeutics is AKBA.

What are Erik Ostrowski's academic qualifications?

Erik Ostrowski holds a bachelor's degree in accounting and economics from Babson College and an MBA from the University of Chicago Booth School of Business.