SV Life Sciences et al. in $7.6m series-B for Karus
Karus Therapeutics has secured a $7.6m series-B financing round, led by SV Life Sciences, New Leaf Ventures, Novo A/S and International Biotechnology Trust.
The new backers joined the existing investor base, consisting of IP Group and an undisclosed number of angel investors, which also reinvested in this round.
The investment will be used to advance the process of developing Karus's inhibitor programmes, which are designed to treat inflammatory diseases and cancer.
Company
Karus is a Southampton-based biotechnology company that was founded in 2006. It develops the PI3-Kinase p110-delta/beta and HDAC6 inhibitor programmes, which can be used for the treatment of athritis and in targeted cancer therapies. Karus is not yet profitable.
People
New Leaf Venture Partners managing director Srinivas Akkaraju, SV Life Science Associates partner Graham Boulnois and Novo A/S senior partner Martin Edwards will join Karus's board of directors upon completion of the financing round. Simon Kerry is CEO of Karus.
Advisers
Equity - Morrisson Forster (Legal).
Company - Fasken Martineau (Legal).
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