06 April 2009
Karus announces second closing of investment
Chilworth, UK - 6 April 2009 - Innovative pharmaceutical company Karus Therapeutics Ltd has today announced a second closing of its December 2008 investment, bringing the total amount raised to over £1 million and securing the company’s first US-based investor, New Hill Management LLC.
“Bringing a new investor to Karus is a tremendous achievement in difficult economic times” said Dr Simon Kerry, Chief Executive Officer of Karus, “we believe it reflects the exciting potential of our portfolio and the strong progress we have made over the last three years”.
Karus is a development-stage pharmaceutical company with a mission to design, develop and partner innovative, best-in-class, molecular-targeted, small-molecule drugs to treat inflammation, immune disease and cancer. The company's primary focus is the development of proprietary drugs that target epigenetic mechanisms and lipid kinase signaling.
The outstanding potency and excellent tolerability of Karus’s HDAC inhibitors (HDI) represent an innovative approach to this important drug target and brings the promise of a new goldstandard in the treatment of rheumatoid arthritis, psoriasis and cancer.
Karus comprises a seasoned commercial and scientific team, with unrivalled experience in the biotechnology and pharmaceutical sector. This expertise has enabled the company to remain focused and to make efficient progress in its development programs.
Karus was formed in July 2005 to develop a new family of highly potent, optimized HDAC inhibitors that were identified at the University of Southampton and Cancer Research UK.
New Hill Management provides highly focused investment management services for clients seeking high absolute returns from alternative investments. The team is distinguished by the depth and breadth of its partners’ experience, and their history of working together. Over the past six years the partners of New Hill have built highly valuable relationships with leading research universities as well as with like-minded institutional co-investors.