FDA approves PureTech’s KarXT to treat schizophrenia in adults
PureTech Health has obtained approval from the US Food and Drug Administration (FDA) for KarXT to treat schizophrenia in adults. With this approval, the company is entitled to receive two separate payments totalling $29m from Royalty Pharma and Karuna Therapeutics, a PureTech Founded Entity now under Bristol Myers Squibb (BMS).
FDA Approves KarXT To Treat Schizophrenia; PureTech Health Gets $29 Mln Milestone Payment
This approval triggers 2 milestone payments totaling $29 million, as per agreements with Royalty Pharma and PureTech's founded entity, Karuna Therapeutics, which was acquired by Bristol Myers Squibb (BMS) in March of 2024. Royalty Pharma had acquired an interest in PureTech's royalty in KarXT.
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Milestone triggers payments to PureTech totaling $29 million under agreements with Royalty Pharma and PureTech’s Founded Entity, Karuna Therapeutics, which was acquired by Bristol Myers Squibb ...
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PureTech also argues the device has a favourable safety profile, as its active ingredients do not enter the bloodstream, thereby giving it a safety profile similar to placebo.
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