Q32 Bio sells complement inhibitor ADX-097 to Akebia for $12M upfront

Q32 Bio (QTTB) announced that it has sold its Phase 2 complement inhibitor, ADX-097, to Akebia Therapeutics (AKBA). Akebia has acquired ADX-097 and will be responsible for future development and commercialization. Under the terms of the agreement, Q32 Bio will receive $12 million in upfront payments and a near-term milestone, which includes $7 million received at signing, $3 million at the 6-month anniversary of signing, and $2 million payable upon the earlier of the achievement of a milestone or the end of 2026. These payments as well as potential development, regulatory and commercial milestones total up to $592 million. Q32 Bio is also eligible to receive tiered royalties on potential future sales of ADX-097, ranging from low single-digit to mid-teen percentages.