Khartis Therapeutics Raises $50M Series B to Advance Oral Thyroid Eye Disease Treatment
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Khartis Therapeutics Raises $50 Million Series B
San Diego-based biotechnology company Khartis Therapeutics has emerged from stealth after securing $50 million in Series B financing, bringing its total capital raised to $95 million.
The round was led by Forge Life Science Partners, with participation from Longwood Fund and Alexandria Venture Investments. Existing investors Foresite Capital, Lilly Asia Ventures, and Nextech Invest also participated.
Khartis plans to use the funding to advance a pipeline of oral small molecule medicines targeting immunological and chronic diseases.
Focus on Thyroid Eye Disease
Khartis' lead program is focused on thyroid eye disease, or TED, an immune-mediated condition that can affect the tissues around the eyes.
The program centers on an oral, selective inhibitor of insulin-like growth factor 1 receptor (IGF-1R), which the company describes as the first therapy of its kind specifically designed for thyroid eye disease.
The funding will support the program as it progresses toward clinical development while also advancing additional small molecule programs.
Developing Oral Small Molecule Therapies
Khartis is positioning its oral approach as a potentially more convenient treatment option for patients while seeking to address safety and durability limitations that the company says remain with existing therapies.
Beyond its lead TED program, the company is developing additional oral medicines targeting clinically validated immunology pathways and chronic diseases.
Experienced Drug Discovery Team
Khartis was founded by Robert Hoffman, who serves as CEO and head of drug discovery, Chief Scientific Officer Craig Murphy, and Executive Chairman Chris LeMasters.
Hoffman, Murphy, and members of the scientific team previously worked together at XinThera, a biotechnology company acquired by Gilead Sciences in 2023.
The team is applying its previous small molecule drug discovery experience to a pipeline focused on established biological targets.
Next Stage of Development
The $50 million Series B provides Khartis with capital to move its lead IGF-1R program toward the clinic while continuing development of its broader immunology pipeline.
With $95 million raised to date, the company is now transitioning from stealth-stage drug discovery toward clinical development.
