UK pharmaceutical company Karus Therapeutics has closed its Series B round, which includes a first tranche of $7.6m.
The financing was led by new investors SV Life Sciences, New Leaf Ventures, Novo and International Biotechnology Trust, who were joined by existing investors, IP Group and a number of angel investors.
The company develops innovative medicines for the treatment of inflammatory disease and cancer and the investment will be used to advance the company’s programmes through early clinical trials.
Srini Akkaraju, managing director, 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.”
Karus also announces a new and expanded board of directors comprising Akkaraju; Graham Boulnois, partner, SV Life Science Associates; Martin Edwards, senior partner, Novo A/S; Sam Williams, IP Group; Drummond Paris, as an independent non-executive director as well as Simon Kerry, Karus’s CEO, and Stephen Shuttleworth, Karus’s chief scientific officer.
Copyright © 2012 AltAssets