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.
The acquisition marks a major step for the UK MedTech, one of a new generation of AI-driven firms focused on rescuing abandoned drug candidates.
The company’s technology combines cheminformatics and bioinformatics to uncover why promising therapies fail in preclinical or clinical stages, often due to complex safety issues such as liver or cardiac toxicity.
“We are acquiring assets that have demonstrated therapeutic effect, but failed in their development and were shelved despite tens of millions of dollars already invested in them,” said Sam Windsor, co-founder and CEO of Ignota Labs.
“This is where Ignota Labs comes in: unlocking value by turning around failing drugs so that they can quickly get back into clinical trials and bring fresh hope to the patients waiting for these drugs.”
The drugs being revived target blood cancers and autoimmune disorders, two areas where demand for new treatments remains high.
Dr Jordan Lane, co-founder and chief scientific officer, added: “These drugs are desperately needed. Both CKD9 inhibitors and SYK inhibitors have shown clinical benefit to patients.
“By in-licensing these drugs, we are uniquely placed to bring these best-in-class drugs to patients with diseases that desperately need them.”
Founded by Cambridge researchers and pharmaceutical consultants, the business raised $6.9 million in seed funding last year from AIX Ventures, Montage Venture and Modi Ventures.
The company says its AI-led approach could save years of R&D time and salvage valuable therapies that might otherwise never reach patients.