Karuna Secures $68 Million To Support Schizophrenia Treatment Development

Karuna Pharmaceuticals (Karuna) recently announced it has raised $68 million in a Series B financing round. The funds will support the development of treatments for neuropsychiatric disorders.

Specifically, the new funding will go to benefit Karuna’s development of KarXT, its treatment for individuals with schizophrenia. Having shown to be well-tolerated by individuals in past studies, Karuna hopes for KarXT to become the first antipsychotic drug with a unique mechanism in over 60 years to prove effective in both treating positive symptoms and disabling negative and cognitive symptoms of schizophrenia. With the additional funding, Karuna also plans to advance . . .