Karus Therapeutics, a Chilworth, UK-based developer of medicines for the treatment of inflammatory disease and cancer, has raised a $7.6m first tranche of a Series B funding.
The round was led by new investors SV Life Sciences, New Leaf Ventures, Novo A/S and International Biotechnology Trust, with participation from existing investors IP Group and unnamed angel investors.
The company intends to use the funding to advance its proprietary PI3-Kinase p110-delta/beta and HDAC6 inhibitor programmes through early clinical trials in inflammation and cancer.
Led by CEO Simon Kerry and CSO Stephen Shuttleworth, Karus Therapeutics also announced a new and expanded Board of Directors, now comprising:
Srinivas Akkaraju, Managing Director, New Leaf Venture Partners;
Graham Boulnois, Partner, SV Life Science Associates;
Martin Edwards, Senior Partner, Novo A/S;
Sam Williams, IP Group Plc; and
Kerry, and Shuttleworth.