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 2,800+ scientific posters on ePosters
  • More Than 4,000+ 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
High Throughput Mass Spectrometry-Based Screening Assay Trends
Dr John Comley provides an insight into HT MS-based screening with a focus on future user requirements and preferences.
Kitchen Utensils Can Spread Bacteria Between Foods
In a recent study researchers found that produce that contained bacteria would contaminate other produce items through the continued use of knives or graters—the bacteria would latch on to the utensils commonly found in consumers' homes and spread to the next item.
Exploring the Causes of Cancer
Queen's research to understand the regulation of a cell surface protein involved in cancer.
Safer, Faster Way To Remove Pollutants From Water
Using nanoparticles filled with enzymes proves more effective than current methods.
Drug May Prevent Life-Threatening Muscle Loss in Advanced Cancers
New data describes how an experimental drug can stop life-threatening muscle wasting (cachexia) associated with advanced cancers and restore muscle health.
Ancient Viral Molecules Essential for Human Development
Genetic material from ancient viral infections is critical to human development, according to researchers at the Stanford University School of Medicine.
Novel Tumor Treatment
In the first published results from a $386,000 National Cancer Institute grant awarded earlier this year, a paper by Scott Verbridge and Rafael Davalos has been published.
Speeding Up the Process of Making Vaccines
System uses a freeze-dry concept to develop "just-add-water" solution.
Chemical Design Made Easier
Rice University scientists prepare elusive organocatalysts for drug and fine chemical synthesis.
New Analysis Technique for Chiral Activity in Molecules
Professor Hyunwoo Kim of the Chemistry Department and his research team have developed a technique that can easily analyze the optical activity of charged compounds by using nuclear magnetic resonance (NMR) spectroscopy.
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
2,800+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,000+ scientific videos