Keros Therapeutics to receive $20M milestone from Takeda

Keros Therapeutics, Inc. (Nasdaq: KROS) announced it expects to receive a $20 million development milestone payment from Takeda following the dosing of the first patient in the ELRiSE MF clinical trial, a Phase 3 study evaluating elritercept against placebo in patients with myelofibrosis and anemia on concurrent ruxolitinib therapy.

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 payment in February 2025 and is eligible for additional development, commercial, and sales milestones that could exceed $1.1 billion, along with tiered royalties on net sales.

Keros said it plans to distribute 25% of the net cash proceeds from the milestone payment to its stockholders following receipt.

The license agreement covers the development, manufacture, and commercialization of elritercept worldwide, excluding mainland China, Hong Kong, and Macau. Elritercept is being developed to treat low blood cell counts in patients with myelodysplastic syndromes and myelofibrosis.

"The milestone marks another important step forward for the elritercept program," said Jasbir S. Seehra, Ph.D., President and Chief Executive Officer of Keros.

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