Oxford, UK, 2 October 2013 – Karus Therapeutics, a leader in the development of innovative medicines for the treatment of inflammatory disease and cancer, has won ‘Best Biotech Fundraiser’ at this year’s OBN Awards ahead of shortlisted candidates e-Therapeutics and Heptares Therapeutics.
The accolade recognised the progress Karus has made in securing US$7 (~£5m) million funding in the first tranche of a Series B investment from a syndicate of top tier investors including SV Life Sciences (UK and International), New Leaf Venture Partners (US), Novo A/S (Denmark), IP Group (UK), Esperante Ventures (Netherlands) and a number of angel investors in September 2012.
Dr Simon Kerry, CEO and Dr Stephen Shuttleworth, CSO were presented with the award by Akesios Associates at a dinner held at the Ashmolean Museum, Oxford, yesterday evening.
On receiving the prize, Dr Kerry said: “Funding in our early years was highly challenging, so we were delighted that experienced investors recognised not only the potential of our R&D programmes but also the progress we had made towards achieving our goals. Winning best biotech fundraiser at these awards highlights the tenacity required in this sector.”
He continued “The team’s hard work has been rewarded: we are now in a financially strong position having been able to fund expansion and a move to Oxford. We are advancing our isoform-selective PI3K and HDAC inhibitor programmes towards the clinic.”
The annual OBN Awards seek to highlight the many achievements of the UK’s bioscience sector in raising funds, executing deals and supporting innovation. In selecting the winners they take into account the significance for the stage of development of a nominated life sciences company, as well as the scale of the achievement.
To read more about this year’s winners, please follow the link here.