# Karuna Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/karuna-therapeutics

- Industry: Biotechnology
- Headquarters: Boston, US
- Website: www.karunatx.com
- Total disclosed funding: $122M
- Latest round: Series B (Apr 1, 2019)
- Investors on record: 10

## 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.

## Funding rounds

- Series B, Apr 1, 2019, $12M — Sofinnova Investments
- Series B, Mar 18, 2019, $68M — ARCH Venture Partners, Wellcome Trust, Alexandria Venture Investments, Fidelity Investments, Partner Fund Management, PureTech Health plc, Eventide Asset Management, Sands Capital Alternatives, Pivotal Life Sciences
- Series A, Aug 2, 2018, $42M — ARCH Venture Partners, Wellcome Trust, PureTech Health plc

## Investors

- ARCH Venture Partners (https://capitalatlas.ai/funds/arch-venture-partners) — Series A, Series B
- Wellcome Trust — Series A, Series B
- PureTech Health plc — Series A, Series B
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series B
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series B
- Partner Fund Management — Series B
- Eventide Asset Management (https://capitalatlas.ai/funds/eventide-asset-management) — Series B
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series B
- Pivotal Life Sciences (https://capitalatlas.ai/funds/pivotal-life-sciences) — Series B
- Sofinnova Investments (https://capitalatlas.ai/funds/sofinnova-investments) — Series B