BRIEF—Karuna raises $68 million in series B round

PureTech Health affiliate Karuna has completed a $68 million series B financing round, led by ARCH Venture Partners, with participation from Fidelity Management & Research and others.

KarXT, Karuna’s lead product candidate, is currently being evaluated in a Phase II trial as a potential treatment for acute psychosis in patients with schizophrenia.

The firm says the money will be used to advance the development of KarXT into several new indications, including geriatric psychosis and pain, progress new formulations of KarXT, expand the pipeline, and continue to build company infrastructure.