Quark Venture Inc. and GF Securities Participate in Keros Therapeutics’ $23 million Series B Financing for Development of Therapies to Treat Debilitating Neuromuscular Diseases
VANCOUVER, British Columbia, Jan. 07, 2019 (GLOBE NEWSWIRE) — Quark Venture Inc. (Quark) and GF Securities are pleased to announce their investment in Keros Therapeutics, a company dedicated to the discovery and development of novel therapeutics for neuromuscular diseases. The investment, made through their Global Health Sciences Fund (GHS), is part of the $23 million Series B round lead by Pontifax that also included other existing investors Arkin Bio Ventures, Partners Innovation Fund, and Medison Pharma. The funding raised will advance the company’s lead programs through Phase II clinical trials for a rare disease (Fibrodysplasia Ossificans Progressiva (FOP), that involves tissues, such as muscle, ligaments and tendons, that gradually become replaced by bone.
“Quark is pleased to invest in high-performing biotechnology and health sciences companies that are addressing urgent and unmet medical needs through their innovative technologies. Keros Therapeutics’ lead program is a phenomenal example of ground-breaking research that could have major impact on the well-being of patients with neuromuscular disease,” says Ms. Karimah Es Sabar, CEO & Partner, Quark Venture and Director of the GHS Fund
The survival rate of those affected by FOP is generally around 40 years of age, and currently there is no cure or approved treatments. Proceeds from this financing will be used to advance Keros’ potential FOP therapeutic programs through Phase II clinical trials as well as developing its other pre-clinical programs focused on therapeutics for rare neuromuscular diseases.
“The Keros team has a deep understanding of the biology relevant to the growth and development of skeletal muscle, and today’s announcement takes us one step closer to our goal of developing proprietary therapeutics to treat rare – and debilitating – neuromuscular diseases,” says Jasbir S. Seehra, Ph.D., President and CEO of Keros. “The funding received to date has allowed Keros to achieve the pre-clinical milestones for our programs, and we are thrilled to be able to drive our programs further into the clinic through this investment.”
About Quark Venture
Quark Venture Inc. is a venture capital company focused on equity financing of innovative biotechnology companies with breakthrough technology platforms. Our strategic goal is to continually support such entrepreneurial biotechnology companies to efficiently improve the technology platform and obtain high-growth value by providing diversified healthcare products or services. Quark’s proven success is achieved through long-term relationships with target companies that share similar technology innovation visions. For information about Quark Venture or GF Securities visit https://www.quarkventure.com.
About Global Health Sciences Fund (GHSF)
Global Health Sciences Fund was jointly established by Quark Venture Inc. and GF Securities in 2016. Global Health Sciences Fund is a health sciences venture fund that invests globally in a diversified portfolio of innovative biotechnology and health sciences companies that are addressing unmet medical needs through innovations in drug development, medical devices, health IT and emerging convergent technologies.
About Keros Therapeutics
Keros Therapeutics harnesses the knowledge of leading physician researchers and medical experts in the discovery and development of novel proprietary therapeutics for neuromuscular diseases. Headquartered Lexington, Massachusetts, Keros Therapeutics is led by President and CEO Dr. Jasbir Seehra, who has over three decades of hands-on experience creating first-tier drug therapies. An expert in both biologic and small-molecule drug development, Dr. Seehra leads the Keros team as it explores approaches to treating some of the most intractable neuromuscular diseases, such as fibrodysplasia ossificans progressiva (FOP) and other muscle disorders. The innovative work Keros Therapeutics has underway could bring revolutionary relief to those who suffer from rare and ultra-rare neuromuscular diseases. For more information on the leading work Keros Therapeutics has underway, visit www.kerostx.com.
For more information about Quark Venture please contact Kaley Wilson at firstname.lastname@example.org