Published: October 6, 2025 at 4:51 pm
Cambridge-based AI drug turnaround company Ignota Labs has acquired the full clinical asset portfolio of former unicorn Kronos.
The once high-flying MedTech, which was listed on the Nasdaq Stock Exchange, saw its valuation peak at $3.5 billion before its collapse earlier this year.
Kronos had advanced two key programmes – istisociclib, a CDK9 inhibitor, and entospletinib and lanraplenib, both SYK inhibitors – into phase 2 trials before halting operations following safety and clinical setbacks.
After further layoffs, the resignation of CEO Norbert Bischofberger and a failed restructuring effort, Kronos was sold to Concentra Biosciences for just $0.57 per share in mid-2025.
Ignota Labs will now apply its proprietary SAFEPATH AI platform to identify and resolve the causes of toxicity that derailed development, with the goal of reviving and commercialising the drugs for patients.