Keros Therapeutics (KROS) Oppenheimer 36th Annual Healthcare Life Sciences Conference summary

Company focus and pipeline

• Focused on developing therapies targeting dysfunctional TGF-β superfamily signaling for diseases affecting muscle, bone, adipose, and heart tissues.

• Lead candidate rinvatercept (KER-065) is in development for Duchenne muscular dystrophy (DMD) and ALS.

• Elritercept, partnered with Takeda, is being developed for anemia in myelodysplastic syndrome (MDS) and myelofibrosis (MF).

• Proprietary discovery platform supports a broad pipeline, including preclinical assets for neurodegenerative, bone, fibrotic, obesity, and fertility indications.

Rinvatercept (KER-065) clinical and preclinical updates

• Designed to inhibit TGF-β ligands, improving muscle regeneration, reducing fibrosis, and increasing bone strength.

• Phase I study showed good tolerability, increased lean mass, improved bone mineral density, and reduced fat mass.

• Demonstrated potential to address DMD pathology, both as monotherapy and in combination with existing treatments.

• Plans to initiate a DMD trial this quarter and engage regulators for an ALS phase II trial in the second half of the year.

Elritercept partnership and development

• Global license agreement with Takeda (excluding China, Hong Kong, Macau) includes $200M upfront and over $1.1B in milestones, plus tiered royalties.

• Takeda is responsible for clinical development, manufacturing, and commercialization.

• Phase III RENEW trial ongoing; Takeda to start frontline treatment trial in fiscal 2025 (ending March 31, 2025).

• Commercialization expected towards the end of this decade or early next decade.