About Karuna Therapeutics
Karuna Therapeutics is a Healthcare company based in Boston (United States) founded in 2009, and was acquired by Bristol-Myers Squibb in December 2023. It operates as a therapies for psychosis and cognitive impairment are developed. Karuna Therapeutics has raised $132.1 million across 6 funding rounds from investors including Fidelity Investments, ARE and PureTech Health. The company has 339 employees. Its chief executive is Steven M Paul. Its focus areas include Life Sciences, Neurology, Drugs and Diversified. Its legal entity is KARUNA THERAPEUTICS, INC. Its competitors include Jazz Pharmaceuticals, Biogen, Neurocrine, PTC Therapeutics and Biohaven Pharmaceutical and 3 more; 8 of its 8 listed competitors have raised funding.
Company details
Karuna Therapeutics was founded in 2009 and is headquartered in Boston, United States. Focus is placed on developing pharmaceutical therapies within the biotechnology sector to address psychosis and cognitive impairment. Operations center on advancing muscarinic receptor agonists, with KarXT serving as a key oral candidate targeted at schizophrenia and psychosis associated with Alzheimers disease. Clinical development and regulatory efforts are conducted primarily in the U.S.
- Headquarters Boston, United States
- Employees 339
- Stage Public
- SectorsHealthcare
- Email••••••••
- Website karunatx.com
- Social LinkedIn
- Acquired by Bristol-Myers Squibb (Dec 2023)
- Legal Name Karuna Therapeutics, Inc.
- Annual Revenue$654 K (USD)-94as on Dec 31, 2023
- Net Profit-$433.68 M (USD)-57as on Dec 31, 2023
- EBITDA-$494.78 M (USD)-71as on Dec 31, 2023
- Total Equity Funding$132.1M (USD)
in 6 rounds
- Latest Funding Round$12M (USD), Series B
Apr 2019
- InvestorsFidelity Investments
& 10 more
- Employee Count339
- Acquired byBristol-Myers Squibb
(Dec 2023)
Funding Insights of Karuna Therapeutics
Karuna Therapeutics has successfully raised a total of $132.1M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $12 million completed in April 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $132.1M
- Total Rounds 6
- Last Round Series B — $12M
- First Round $600,000
(May 2011)
- Investors Count 10
All 6 funding rounds of Karuna Therapeutics with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2019 | $12M | Series B | – | Sofinnova Investments | |
| Mar 2019 | $68M | Series B | – | Arch Venture Partners | |
| Aug 2018 | $42M | Series A | – | – | |
| Jun 2018 | $8M | Series A | – | – | |
| Sep 2011 | $1.5M | Seed | – | – | – |
| May 2011 | $600,000 | Seed | – | – | – |
11 investors in total: 11 institutional.
Investors in Karuna Therapeutics
Karuna Therapeutics has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include Fidelity Investments, ARE and PureTech Health.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm focused on life science companies | 1986 | archventure.com | Chicago, United States | |
Biotech funding, drug development support, and investment in life sciences. | – | sofinnova.com | - | |
Growth stage tech & life sciences focused VC Firm investing in Asia and the US | – | sandscapitalventures.com | Arlington, United States | |
Healthcare companies are invested in by this private equity firm. | – | pfmhealthsciences.com | San Francisco, United States | |
Provider of brokerage accounts, retirement planning, wealth management, and trading platforms | 1946 | fidelity.com | Boston, United States | |
Eventide Mutual Funds is managed by Eventide Asset Management, offering investment solutions. | – | eventidefunds.com | Boston, United States | |
REIT that invests in campuses, multi-tenant spaces and build-to-suit facilities in the US | 1994 | are.com | Pasadena, United States | |
Immunotherapeutics are developed for inflammation, fibrosis, and lung diseases. | 2001 | puretechhealth.com | Boston, United States | |
Health research and advocacy are funded globally by the foundation. | 1936 | wellcome.org | London, United Kingdom | |
A global healthcare investment firm supporting therapeutic-focused companies. | 2017 | pivotalbiovp.com | San Francisco, United States |
Investor details for Karuna Therapeutics
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People of Karuna Therapeutics
1418 people are tracked at Karuna Therapeutics (871 in leadership, 11 in board & advisors, 536 in team); the tracked headcount is 339.
| Name | Role | Group |
|---|---|---|
Steven M Paul | CEO | Leadership |
Lakshmikant Bajpai | Director And Head Of Analytical Research & Development | Leadership |
Tughan Demirbilek | Head Of Strategy & Operations Intercontinental Region | Leadership |
Elaina Gillule | Human Resources Business Partner- R&d - Global Development Operations | Leadership |
Mark L Clarke | Associate Director Cell Therapy Development | Leadership |
Frank Marra | Vice President, Worldwide Commercialization Operations | Leadership |
Alex Turoczi | Director, End To End AI Marketing Integration Lead, Worldwide Commercialization Excellence | Leadership |
Yolanda Caringal | Senior Director | Leadership |
Nitin Bindal | Business Unit Director - Oncology And Hematology | Leadership |
Stephane Strebelle | Executive Director Finance, US Commercialization Fp&a | Leadership |
Tyler Longmire | Director | Leadership |
Lisa Evans | Director, Omnichannel Strategy, Neuroscience | Leadership |
Federico L. | Senior Director, Value Chain Analytics | Leadership |
Kevan J. Evans II | Director | Global Business Performance, Strategy & Excellence; People Organization | Leadership |
Shayla O. | Associate Director, People Services Communications | People & Culture Internal Comms | Leadership |
Kami Wagner | Director, R&d Quality- Clinical Auditing | Leadership |
Kald A. | Head Of Worldwide Medical - Oncology | Leadership |
Joanna Wolkowski | Head Of Global Pricing, Health Systems Analytics, And Reimbursement Operations | Leadership |
Imara Charles | Vice President, Chief Of Staff, Global Product Development And Supply | Leadership |
Christian Lamont | Executive Director, Automated Product Market Compliance | Leadership |
1398 more people are available in the full profile.
Complete people profiles for Karuna Therapeutics
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Timeline of Karuna Therapeutics
5 dated milestones of Karuna Therapeutics across 14 years, from founding to its latest funding, stage changes and deals.
- Founded Karuna Therapeutics is founded.
- Funding First funding round of $600K.
- Funding Latest funding round, Series B, of $12.0M.
- IPO Lists on the stock exchange (IPO).
- Exit Acquired by Bristol-Myers Squibb.
Competitors of Karuna Therapeutics
Karuna Therapeutics has 8 listed competitors in our database, 8 of them funded. They include Jazz Pharmaceuticals, Biogen, Neurocrine, PTC Therapeutics and Biohaven Pharmaceutical, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| jazzpharma.com | 2003 | Dublin, Ireland | $265M | 2,800 | Novel biopharmaceutical medicines are developed for unmet medical needs. | |
| biogen.com | 1978 | Cambridge, United States | $80M | 1 | Therapies for neurodegenerative and immunology disorders are developed. | |
| neurocrine.com | 1992 | San Diego, United States | $10M | 1,400 | Developer of small molecule therapeutics for endocrine and CNS disorders | |
| ptcbio.com | 1998 | South Plainfield, United States | $248.1M | 995 | Small molecule drugs for rare diseases are developed. | |
| biohavenpharma.com | 2014 | New Haven, United States | $84.1M | 932 | Therapies for neurological and neuropsychiatric diseases are developed. | |
| sana.com | 2018 | Seattle, United States | $821M | 328 | Genetically engineered cell therapies are developed for multiple disorders. | |
| askbio.com | 2001 | Durham, United States | $235M | – | Gene and protein therapies are developed for treating various diseases. | |
| pacira.com | 2006 | Parsippany Troy Hills, United States | $85M | 712 | Injectable non-opioid products for post-surgical pain control are developed. |
Detailed competitors of Karuna Therapeutics
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Top companies in Neurology
10 companies that operate in the same segment as Karuna Therapeutics (Neurology), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Novel biopharmaceutical medicines are developed for unmet medical needs. | 2003 | Dublin, Ireland | USD 265 M | USD 4.27 B | 2,800 | |
Immuno-modulatory therapies for dementia and neurodegenerative disorders are developed. | 2013 | San Francisco, California, United States | USD 214.78 M | USD 21.05 M | 211 | |
Developer of therapeutics for psychiatric and neurologic diseases | 2002 | New York, New York, United States | USD 80.87 M | USD 250.31 M | 600 | |
Biologics platform developed for intracellular delivery in rare diseases. | 2016 | Boston, Massachusetts, United States | USD 175.25 M | USD 25.42 M | 183 | |
Developer of therapies for the treatment of musculoskeletal disorders | 2007 | Woburn, Massachusetts, United States | USD 62 M | USD 85.55 M | 692 | |
MR-interfaced ultrasound devices for cancer and neurology treatments are provided. | 1999 | Tirat Carmel, Haifa District, Israel | USD 574.2 M | – | 541 | |
AI-driven drug discovery platform for neurological diseases based on patients biomarkers | 2019 | San Francisco, California, United States | USD 144.72 M | – | 76 | |
Small molecule drugs for rare diseases are developed. | 1998 | South Plainfield, New Jersey, United States | USD 248.1 M | USD 1.73 B | 939 | |
Developer of small molecule therapeutics for endocrine and CNS disorders | 1992 | San Diego, California, United States | USD 10 M | USD 2.86 B | 1,800 | |
Developer of antibodies to treat complement-mediated neurodegenerative diseases | 2011 | San Francisco, California, United States | USD 256 M | – | 100 |
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Frequently Asked Questions about Karuna Therapeutics
Karuna Therapeutics was founded in 2009 and raised its 1st funding round 2 years after it was founded.
Karuna Therapeutics is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Steven M Paul is the current CEO of Karuna Therapeutics.
Karuna Therapeutics is a funded company, having raised a total of $132.1M across 6 funding rounds to date. The company's 1st funding round was a Seed of $600K, raised on May 2011.
Karuna Therapeutics has 339 employees.
Annual revenue of Karuna Therapeutics is $654K as on Dec 31, 2023.
Karuna Therapeutics was founded in 2009 and is headquartered in Boston, United States. Focus is placed on developing pharmaceutical therapies within the biotechnology sector to address psychosis and cognitive impairment. Operations center on advancing muscarinic receptor agonists, with KarXT serving as a key oral candidate targeted at schizophrenia and psychosis associated with Alzheimers disease. Clinical development and regulatory efforts are conducted primarily in the U.S.
Karuna Therapeutics's top competitors include Jazz Pharmaceuticals, PTC Therapeutics and Neurocrine.
Karuna Therapeutics has 11 investors. Key investors include Fidelity Investments, ARE, PureTech Health, Arch Venture Partners, and Bristol-Myers Squibb.
Karuna Therapeutics operates through Karuna Therapeutics, Inc..
Yes. Karuna Therapeutics was acquired by Bristol-Myers Squibb in December 2023.