Armed with $95m in funding and a former Pfizer drug discovery specialist, Khartis Therapeutics has emerged with the aim of bringing a new treatment for an autoimmune disease that causes eye inflammation.
Unveiling itself via a $50m Series B raise announcement, Khartis said its pipeline includes oral small-molecule medicines with both first- and best-in-class potential targeting immunology pathways. The fundraise, which was led by Forge Life Science Partners with participation from existing investors including Lilly Asia Ventures, means the biotech has amassed $95m in capital.
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Khartis said the financing would support its pipeline of oral small molecule medicines targeting immunology pathways. In particular, capital will be directed towards its lead programme, an oral, selective IGF-1R inhibitor designed specifically for the treatment of thyroid eye disease (TED). TED is an autoimmune condition that causes inflammation, swelling, and a bulging appearance of the eyes. While closely linked to Graves’ disease and overactive thyroids, patients can still have the disease with normal thyroids.
While targeted biologic drugs are approved to treat TED, including Amgen’s blockbuster Tepezza (teprotumumab) and Viridian Therapeutics’ Lumvoa (veligrotug), Khartis claims these come with safety trade-offs. For example, both drugs can cause severe hearing issues and spikes in blood sugar. Like Khartis’ candidate, both Amgen and Viridian’s products are IGF-1R inhibitors, though these are administered as intravenous infusions. To join the market, Khartis says it will offer a safer and more durable patient-friendly option.
Khartis was co-founded in 2024 by Robert Hoffman, a veteran of the biopharma sector. Hoffman spent 32 years at Pfizer as a research project leader, helping discover lung cancer therapy Lorbrena (lorlatinib) and Covid-19 antiviral Lufotrelvir, amongst others. He also served as vice president of chemistry at XinThera until the biotech was acquired by Gilead for an undisclosed sum in May 2023. Hoffman has taken the mantle of CEO and head of drug discovery at Khartis, while co-founders Craig Murphy and Chris LeMasters are the CSO and executive chairman, respectively. The three founders, along with several of Khartis’ scientific team, worked together at XinThera.
Following the emergence from stealth, Hoffman said: “This financing reflects strong conviction in our team, our science, and the opportunity ahead. With this backing, we will accelerate advancement of our lead programme while continuing to do what this team does best: discovering and developing differentiated small molecule medicines against important, clinically validated targets.”
Murphy highlighted the “serious burden” that remains for TED patients, explaining that its lead programme represents just the first in a broad pipeline.
“We believe an oral, selective IGF-1R inhibitor can change that equation, helping to substantially open the market with a safer, more durable patient-friendly option. And this is just the first programme in a pipeline we’re excited to bring forward,” he commented.
