The psychiatric and cognitive disorder drug developer secured the financing in a round backed by its founder, PureTech Health.
US-based Karuna Pharmaceuticals, a startup developing drugs for psychiatric and cognitive disorders, has closed a $42m series A round that included pharmaceutical company PureTech Health.
The round included $22m of debt financing that was converted into equity, and PureTech was joined by Arch Venture Partners, Wellcome Trust and Steven Paul, a venture partner at venture capital fund Third Rock Ventures, as well as unnamed other backers.
Founded by PureTech, Karuna is working on therapeutics that will treat central nervous system…
