Karuna Therapeutics, Inc. Asset Profile

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Year established

2009

Location

Boston MA US

Primary Industry

Biotechnology

About

Founded in 2009 and based in Massachusetts, the US, Karuna Therapeutics, Inc., formerly known as Karuna Pharmaceuticals Inc., develops therapeutics for psychosis and cognitive disorders across the central nervous system (CNS) such as schizophrenia and Alzheimer's Disease. The company is advancing a pipeline of novel medicines with the goal of providing a meaningful difference in the lives of those affected neurological conditions through the cultivation of deep expertise in neuroscience, and inventive thinking around drug discovery and development. Andrew Miller is the founder of the company. In April 2019, the company raised USD 80 million in Series B funding from Sofinnova Investments, ARCH Venture Partners, and other investors. In March 2021, the firm became a public company with a total offering of USD 120.00 per share, under the ticker symbol NASDAQ: KRTX. The firm’s product KarXT targets the muscarinic acetylcholine receptors composed of xanomeline, a novel muscarinic acetylcholine receptor agonist (activator), and trospium chloride, a muscarinic receptor antagonist (blocker). The company generated USD 43.4 million in revenue in 2020. The company plans to advance KarXT into a Phase 2 clinical trial for the treatment of dementia-related psychosis in the first half of 2022.

Current Investors

ARCH Venture Partners, PureTech Health plc, Wellcome Trust

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Primary Industry

Biotechnology

Sub Industries

Biopharmaceuticals, Pharmaceutical Research & Development

Website

www.karunatx.com

Company Stage

Mature

Total Amount Raised

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