Headquartered in Grenoble, the company focuses on addressing unmet medical needs in chronic kidney disease (CKD) and related metabolic disorders.

The company's lead product, Xoanacyl (ferric citrate coordination complex), is an oral therapy designed to simultaneously treat iron deficiency and hyperphosphatemia in adult patients with CKD. Originally licensed from Akebia Therapeutics in December 2022, Xoanacyl has been approved and is being commercialized in various regions under different brand names, including Auryxia in the United States and Riona in Japan 

In March 2024, AVEROA submitted a marketing authorization application for Xoanacyl through the centralized European procedure, supported by three pivotal clinical studies performed by Akebia Therapeutics. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion in March 2025, recommending the granting of a marketing authorization for Xoanacyl. The European Commission subsequently granted marketing authorization in June 2025 

Beyond Xoanacyl, AVEROA is advancing its pipeline with the LUCIOL project, which includes AVA2206, a late preclinical candidate targeting renal lithiasis with a novel mechanism of action, and AVA2065, a companion diagnostic test