7:31 AM
Apr 26, 2019
 |  BC Extra  |  Financial News

Schizophrenia therapy developer Karuna among four biotechs to file for IPOs

Weeks after completing its $80 million series B round, antipsychotic therapy developer Karuna said it has filed confidential documentation with the SEC for a planned IPO. The company was one of four to unveil plans to go public Friday along with Bicycle, Peloton and Ideaya.

Backed by founding investor PureTech Health plc (LSE:PRTC), Karuna Therapeutics Inc. (Boston, Mass.) has raised $122 million across two venture rounds to date.

By late 2019, Karuna expects data from a Phase II trial of KarXT xanomeline/trospium chloride, a muscarinic receptor modulator, to treat acute psychosis associated with schizophrenia.

KarXT is designed to mediate the side effects seen in prior studies of xanomeline, an agonist of muscarinic receptors M1 and M4 that has shown efficacy in CNS disorders, by combining it with trospium chloride, an antagonist of M2 and M3 that acts in the...

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