New Era For Schizophrenia Therapy Beckons As Karuna Soars On Promising Phase III Data
Mechanism Exceeds Efficacy Expectations
The PureTech Health-founded entity believes it has made a significant step forward in the treatment of schizophrenia with its muscarinic-receptor acting agent KarXT, which could offer a completely new way to address all three symptom domains of the disease.
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New CEO Bill Meury said Karuna had plenty of time, money and physician enthusiasm to ensure a US launch in 2024 would be a success.
Now the pandemic-era biotech boom is over, biopharma companies and investors are both adjusting their financing strategies to survive and even thrive in the new environment.
Good news in the biopharma industry and the US economy gave public drug developers the boost they needed to raise cash, including Karuna’s $750m offering. Private company financings slowed during the second week of August, but Prellis and Vector BioPharma raised venture capital.