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PureTech Cashes In On Promise Of Karuna Schizophrenia Drug

Gets $100m Upfront From Royalty Pharma

 
• By Kevin Grogan

Karuna’s KarXT could be the first new mechanism for treating schizophrenia approved in more than 50 years and founder PureTech is tapping into that promise by linking up with Royalty Pharma and boosting its cashpile.

Zohar_Daphne.1200
CEO Daphne Zohar • Source: PureTech

PureTech Health plc is reaping the benefits of the excitement surrounding the schizophrenia candidate KarXT from Karuna Therapeutics, Inc., one of the companies it founded, with the sale of royalty rights that could bring in up to $500m to advance its own pipeline.

It has been a very busy week for Karuna which kicked off with a second set of positive Phase III...

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