Industry Bulletins | August 8, 2018
PureTech Health’s Karuna Receives $42 Million Series A For Schizophrenia Drug
Boston, Massachusetts-based Karuna Pharmaceuticals (Karuna), a PureTech Health company, recently secured $42 million in a Series A round of financing. In addition to PureTech, investors included Arch Venture Partners and the Wellcome Trust, amongst others.
Karuna will use the funds to finance its Phase 2 clinical trial testing of a drug for schizophrenia. Its lead candidate, KarXT, contains compounds that target receptors in the nervous system and bind to neural signaling chemicals. Karuna hopes the drug will prove effective in treating schizophrenia, and also plans on exploring the drug’s ability to treat pain in the future.
PureTech Health . . .