Corporate Banner
Satellite Banner
Scientific Communities
Become a Member | Sign in
Home>News>This Article

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
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 2,600+ scientific posters on ePosters
  • More Than 3,800+ 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 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 Therapeutics Appoints Penelope Ward as CMO
Dr Ward will drive Company’s HDAC6 and PI3K inhibitor programmes.
Tuesday, November 12, 2013
Karus Therapeutics Appoints Scientific Advisory Board
Company announces move to new Oxford facilities.
Tuesday, April 09, 2013
Karus Therapeutics Announces Collaboration with Babraham Institute
Collaboration to explore PI3 kinase inhibitors in the treatment of inflammatory diseases.
Tuesday, December 18, 2012
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
Researchers Develop Classification Model for Cancers Caused by KRAS
Most frequently mutated cancer gene help oncologists choose more effective cancer therapies.
Fixing Holes in the Heart Without Invasive Surgery
UV-light enabled catheter is a medical device which represents a major shift in how cardiac defects are repaired.
Chromosomal Chaos
Penn study forms basis for future precision medicine approaches for Sezary syndrome
Enzyme Malfunction May be Why Binge Drinking Can Lead to Alcoholism
A new study in mice shows that restoring the synthesis of a key brain chemical tied to inhibiting addictive behavior may help prevent alcohol cravings following binge drinking.
Key to Natural Detoxifier’s Reactivity Discovered
Results have implications for health, drug design and chemical synthesis.
New Treatment for Obesity Developed
Researchers at the University of Liverpool, working with a global healthcare company, have helped develop a new treatment for obesity.
New Protein Found in Immune Cells
Immunobiologists from the University of Freiburg discover Kidins220/ARMS in B cells and demonstrate its functions.
Will Brain Palpation Soon Be Possible?
Researchers have developed non-invasive brain imaging technique which provides the same information as physical palpation.
Shaking Up the Foundations of Epigenetics
Researchers at the Centre for Genomic Regulation (CRG) and the University of Barcelona (UB) published a study that challenges some of the current beliefs about epigenetics.
Groundbreaking Computer Program Diagnoses Cancer in Two Days
Researchers have combined genetics with computer science and created a new diagnostic technology can with 85 per cent certainty identify the source of the disease and thus target treatment and, ultimately, improve the prognosis for the patient.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
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
2,600+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos