Updated 6:47 p.m.Small molecule discovery and development company Akebia Therapeutics Inc. reported positive results from a second Phase 1 clinical trial of its anemia drug, as well as the second closing of a $16 million financing round announced almost a year ago, boosting the round to $17 million.var page_count = “off”; [...]

The company stated it raised additional money to ensure the development of two of its drugs. Akebia plans later this year to start Phase I clinical trials on an oral medication designed to create new red blood cells in anemia patients. In addition, it wants to establish a human clinical proof of concept for a second drug that prevents vascular leak syndrome, in which blood components leak out of veins and into other systems — a side effect of some cancer treatments.