Keros Therapeutics, a US-based developer of treatments for rare muscle diseases, has collected $23m in a series B round that included pharmaceutical marketing firm Medison Pharma and care provider Partners Healthcare.
Arkin Bio Ventures, part of healthcare investment holding company Arkin Holdings, and Global Health Sciences Fund, a venture capital fund set up by Quark Ventures and investment bank GF Securities, also took part. Partners Healthcare invested through corporate venturing unit Partners Innovation Fund.
Founded in 2016, Keros is working on therapies for diseases which impair the functioning of the muscle, such as fibrodysplasia ossificans progressiva (FOP), which results in muscle and connective tissues such as tendons and ligaments being gradually replaced by bone.
The company’s flagship program aims to inhibit a human protein that is the genetic driver for FOP, while its second program targets other neuromuscular diseases. Keros will use the proceeds from the round to advance both candidates to phase 2 clinical trials.
Jasbir S. Seehra, president and chief executive of Keros, said: “The funding received to date has allowed Keros to achieve the preclinical milestones for our programs, and we are thrilled to be able to drive our programs into the clinic through this investment.”
The round brought Keros’ total funding to $34m and comes after it received $11m in equity financing from seven unnamed investors in November 2017, according to a regulatory filing.