Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Karus Secures Series B Financing from a Syndicate of Leading VC Investors

Published: Thursday, January 17, 2013
Last Updated: Thursday, January 17, 2013
Bookmark and Share
New investment to support the development of Karus’s innovative PI3K and HDAC6 programmes through early human trials.

Karus Therapeutics has announced the closing of its Series B investment, which includes a first tranche of $7.6 million.

The financing was led by new investors, SV Life Sciences, New Leaf Ventures, Novo A/S and International Biotechnology Trust, who were joined by existing investors, IP Group and a number of Angel investors.

The investment will be used to advance the company's proprietary PI3-Kinase p110-delta/beta and HDAC6 inhibitor programmes through early clinical trials in inflammation and cancer.

Simon Kerry, Chief Executive Officer of Karus, commented on the financing: “This is a significant step towards achieving our clinical and commercial goals. Our development programmes show real potential as potent treatments for arthritis and other inflammatory diseases and as a new generation of targeted cancer therapies. These are multi-billion dollar markets that are primed for an orally available drug with the right efficacy and safety profile.”

Stephen Shuttleworth, Chief Scientific Officer, added: “PI3K-p110delta/beta and HDAC6 have recently emerged as critical targets in inflammatory disease and cancer. The molecules designed at Karus display high potency and specificity for these enzymes, and exert oral activity in preclinical models of inflammatory disease. Our PI3K-p110delta/beta inhibitors also show great promise for the treatment of PTEN-negative tumours and we plan to interrogate their clinical potential as a new class of patient-stratified cancer therapies.”

Commenting on the investment, Srini Akkaraju of New Leaf Venture Partners, said: “Karus has gained key insights in two important disease pathways; the company has a strong management team and I am delighted to be working with Stephen Shuttleworth again, having previously worked together successfully in the PI3K space.”

On closing of the investment, Karus also announces a new and expanded Board of Directors, comprising: Srinivas Akkaraju, Managing Director, New Leaf Venture Partners; Graham Boulnois, Partner, SV Life Science Associates; Martin Edwards, Senior Partner, Novo A/S; Sam Williams, IP Group Plc; Drummond Paris, Independent Non-Executive Director as well as Simon Kerry, Karus's Chief Executive Officer, and Stephen Shuttleworth, Karus's Chief Scientific Officer.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,900+ scientific posters on ePosters
  • More than 5,300+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Karus Announces First Lymphoma Patients Dosed with KA2237 in Clinical Study
KA2237 combines an immunotherapeutic response and a direct effect on tumor growth.
Thursday, October 06, 2016
Karus Therapeutics Appoints Penelope Ward as CMO
Dr Ward will drive Company’s HDAC6 and PI3K inhibitor programmes.
Tuesday, November 12, 2013
Karus Commences Preclinical Development of Novel Immune and Inflammation Programmes
The Company aims to initiate clinical trials for both programmes in 2011.
Wednesday, November 03, 2010
Scientific News
BioCision Forms MedCision
The new company will focus on technologies for the management and automation of vital clinical processes.
First New HIV Vaccine Study for Seven Years Begins
South Africa hosts historic clinical trial of experimental HIV vaccine aiming to safely prevent HIV infection.
Study to Assess Shorter-Duration Antibiotics in Children
Physicians plan a clinical trial to evaluate whether short course anti-biotics are effective at treating CAP in children.
Cancer Gene Predicts Treatment Response in Leukaemia
Study indicates the patients suffering from a lethal for of acute myeloid leukemia may live longer when receiving milder chemotherapy drugs.
Injectable Biologic Therapy Reduces Triglycerides
Study finds first-of-its-kind therapy promising for patients with high triglycerides, cholesterol.
Testing Zika Vaccine in Humans Begins
The first of five planned clinical trials to test ZPIV vaccine in humans has begun.
Combination Therapy Improved Chemoresistance in Ovarian Cancer
The study demonstrates how an existing class of targeted therapies could be used to potentiate the tumor suppression induced by cisplatin.
Gene Therapy for Blistering Skin Disease Shows Promise
Grafting genetically altered skin onto patients’ chronic wounds marks the first time skin-based gene therapy has been demonstrated to be safe and effective in humans.
Alzheimer’s Treatment Moves a Step Closer
Merck scientists have reported the discovery of verubecestat, a structurally unique, orally bioavailable small molecule that has been shown to target the most visible sign of the disease in the brain.
Lynparza Phase III Progression-Free Survival Benefit
AstraZeneca announces results from Phase III SOLO-2 trial designed to determine the efficacy of Lynparza as a monotherapy for ovarian cancer.
Scroll Up
Scroll Down
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,900+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,300+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!