San Diego-based biotechnology company Khartis Therapeutics has raised $50 million in Series B funding round to advance its drug development programs for immunological and chronic diseases.
The funding round was led by Forge Life Science Partners, with participation from Longwood Fund, Alexandria Venture Investments, Foresite Capital, Lilly Asia Ventures, and Nextech Invest.
With this latest round, Khartis Therapeutics has raised a total of $95 million to date.
Funding to Advance Thyroid Eye Disease Treatment
Khartis plans to use the new funding to advance its lead drug candidate, an oral selective IGF-1R inhibitor being developed to treat thyroid eye disease (TED).
The company will also use the capital to continue developing its pipeline of oral small-molecule medicines targeting validated pathways involved in immune-related diseases.
“Khartis has assembled an exceptional drug discovery team with a proven ability to translate compelling biology into differentiated medicines,” said Heather Berger, venture partner at Forge Life Science Partners. “We believe Khartis’ selective, oral approach to IGF-1R has the potential to meaningfully improve the treatment of thyroid eye disease, and we’re excited to support the team as they advance the program toward the clinic and continue to expand the pipeline.”
“This financing reflects strong conviction in our team, our science, and the opportunity ahead,” said Robert Hoffman. “We are grateful for the support of Foresite, Lilly Asia Ventures, and Nextech Invest in our initial financing round, and we are excited to welcome Forge, Longwood, and Alexandria in this next phase of growth. With this backing, we will accelerate advancement of our lead program while continuing to do what this team does best: discovering and developing differentiated small molecule medicines against important, clinically validated targets.”
Added Craig Murphy, “TED remains a serious burden for a highly underserved patient population, where existing treatments come with real safety tradeoffs. We believe an oral, selective IGF-1R inhibitor can change that equation, helping to substantially open the market with a safer, more durable patient-friendly option. And this is just the first program in a pipeline we’re excited to bring forward.”
“We’ve seen this team execute consistently since our Series A investment, and the progress they’ve made gives us tremendous confidence in what they can accomplish,” said Michael Rome, Ph.D., managing director of Foresite Capital. “We’re excited to deepen our investment as Khartis advances its lead program toward the clinic and builds a broader pipeline around the team’s proven strengths in small molecule drug discovery.”
Khartis Therapeutics’ Drug Development Platform
Led by CEO Robert Hoffman, CSO Craig Murphy, and Executive Chairman Chris LeMasters, Khartis Therapeutics develops oral medicines for immune-mediated and chronic diseases.
The company’s platform uses small-molecule drug discovery to develop treatments that could offer more convenient options for patients.
Its lead program focuses on thyroid eye disease, with the goal of developing a treatment that is safe, durable, and patient-friendly.
The latest funding will help Khartis move its lead program forward while expanding its broader pipeline of potential immunology treatments.
