Third Rock backs Steve Paul’s latest schizophrenia spinout in $165M round: Venture Report

After resurrecting a decades-old project to create a new medicine for schizophrenia — and steering Karuna toward a $14 billion sale to BMS in late 2023 — Steve Paul, now a venture partner with Third Rock Ventures, has launched a new company that could compete with Karuna’s crown jewel.

Third Rock Ventures and Dexcel Pharma Technologies Ltd. have backed newly launched Syremis Therapeutics Ltd. in a $165 million series A round to support development of two programs for neuropsychiatry indications...