CAMBRIDGE, Mass., Nov. 18, 2020 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced that it ranked number 10 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America, now in its 26th year. Akebia's revenue grew 21,724% during the period from 2016 to 2019.
The Company's significant revenue growth reflects its strategic merger with Keryx Biopharmaceuticals, Inc. (Keryx) on December 12, 2018, whereby Keryx became Akebia's wholly owned subsidiary. As a result of the merger, Akebia began reporting commercial product revenue from AURYXIA® (ferric citrate), marketed in the U.S. for two approved indications. The Company's significant revenue growth also reflects its collaboration revenue generated through collaboration and license agreements for the development and commercialization of vadadustat. Vadadustat is Akebia's investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI) in development for the treatment of anemia due to chronic kidney disease (CKD) in adult patients on dialysis and not on dialysis.
"We are thrilled to have our progress in building an innovative and growing biotechnology company focused on people living with kidney disease recognized by Deloitte as part of the 2020 Technology Fast 500," said John P. Butler, President and Chief Executive Officer of Akebia Therapeutics. "Looking ahead, we believe Akebia has tremendous opportunities to further advance our mission for the benefit of our patients, customers and all our stakeholders."
"For more than 25 years, we've been honoring companies that define the cutting edge and this year's Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives," said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. "We congratulate this year's winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic."
About Deloitte's 2020 Technology Fast 500™
Now in its 26th year, Deloitte's Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2016 to 2019. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $US 50,000, and current-year operating revenues of at least $ US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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. The Company 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
This press release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, including but not limited to statements regarding advancing Akebia's mission. These statements are not historical facts, but instead represent only Akebia's beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of Akebia's control. For a discussion of risks related to the forward-looking statements in this statement see the "Risk Factors" section of Akebia's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings that Akebia may make with the SEC in the future. These forward-looking statements (except as otherwise noted) speak only as of the date of this press release, and Akebia does not undertake, and specifically disclaims, any obligation to update any forward-looking statements contained in this press release.
Kristen K. Sheppard, Esq.
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SOURCE Akebia Therapeutics