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Karuna closes $42mm Series A round to advance KarXT schizophrenia candidate

Executive Summary

CNS-focused Karuna Pharmaceuticals Inc. (muscarinic receptors for psychiatric and cognitive disorders) raised $42mm in a Series A round; $22mm of that amount includes the issuance of shares upon conversion of debt into equity. Investors in the financing included Arch Venture Partners, the Wellcome Trust, Steven Paul, MD (a former Eli Lilly executive and chairman of the Karuna board), parent PureTech Health (which holds a 58.4% ownership), and other undisclosed backers.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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