San Diego biotechnology company Khartis Therapeutics has secured $50 million in Series B financing to advance its pipeline of oral small molecule medicines for immunological and chronic diseases. The round was led by Forge Life Science Partners, with participation from Longwood Fund and Alexandria Venture Investments. Existing backers Foresite Capital, Lilly Asia Ventures and Nextech Invest also rejoined, bringing the company’s total capital raised to $95 million.
Founded in 2024, Khartis is built on the drug discovery expertise of three former XinThera colleagues. Chief executive Robert Hoffman leads drug discovery, chief scientific officer Craig Murphy oversees scientific strategy, and Chris LeMasters serves as executive chairman. Gilead Sciences acquired XinThera in 2023, providing the founding team with a proven track record in translating early-stage research into clinical candidates.
The company’s lead programme is a selective inhibitor of insulin-like growth factor 1 receptor (IGF-1R), positioned as the first oral selective IGF-1R inhibitor designed specifically for thyroid eye disease. The condition is an immune-mediated disorder causing swelling and inflammation around the eyes, with significant effects on vision, appearance and quality of life. Current treatment options carry notable safety considerations, and Khartis believes an oral selective approach could offer a more patient-friendly alternative with durable treatment effects and improved safety characteristics.
Murphy said thyroid eye disease remains a serious burden for patients and that existing treatments involve significant safety Trade-offs. The company sees an opportunity to expand treatment access for underserved populations while building a broader pipeline around clinically validated immunology targets.
Forge Life Science Partners said the team has demonstrated strong drug discovery capabilities and that its selective approach could improve thyroid eye disease treatment. Foresite Capital managing director Michael Rome noted the team has executed consistently since its Series A round, highlighting progress toward clinical development.
The new funding will accelerate the lead programme toward human testing while supporting additional oral small molecule candidates targeting validated immunology pathways. By focusing on targets with existing clinical validation, Khartis aims to reduce biological uncertainty and position oral medicines as potentially safer and more convenient treatment options across immunology.
