Keros Therapeutics to receive $20M milestone from Takeda

Keros Therapeutics, Inc. (Nasdaq: KROS) announced it will receive a $20 million development milestone payment from Takeda following the dosing of the first patient in the ELRiSE MDS clinical trial, a Phase 3 study evaluating elritercept against epoetin alfa for the treatment of anemia in patients with very low, low, or intermediate risk myelodysplastic syndromes (MDS).

The payment is triggered under the terms of a global license agreement with Takeda, which became effective in January 2025. Under that agreement, Keros received a $200 million upfront cash payment in February 2025 and remains eligible for additional development, commercial, and sales milestones that could exceed $1.1 billion, as well as tiered royalties on net sales.

Takeda holds rights to develop, manufacture, and commercialize elritercept worldwide outside of mainland China, Hong Kong, and Macau.

Keros said it expects to distribute 25% of the net cash proceeds from the $20 million milestone payment to stockholders following receipt.

Elritercept is being developed for the treatment of low blood cell counts in patients with MDS and myelofibrosis. The ELRiSE MDS trial is a multicenter, open-label, randomized study.

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