With strengthened balance sheet, Keros is latest biotech looking to test IPO market

Keros’ $56 million series C round early this month appears to be the last stepping stone towards an IPO intended to fund its ongoing clinical work. Despite the volatile public markets, the hematological and musculoskeletal disorders company filed a prospectus late Monday seeking up to $86.3 million via a NASDAQ listing.

The filing by Keros Therapeutics Inc. comes less than two weeks after Foresite Capital, OrbiMed Advisors, Cowen Healthcare Investments and Venrock co-led its series C round, investing alongside Pontifax, Arkin Bio Ventures, Partners Innovation Fund, Global Health Sciences Fund and Medison Pharma. OrbiMed invested $15 million in the round and took a board seat, while Foresite provided $17 million and did not...