Kereos aims to start first U.S. clinical trials in Q4

More than a decade after its founding, Kereos Inc. is planning in the fourth quarter to begin its first-ever U.S. clinical trial.

The company plans to conduct tests on an MRI imaging agent that will help physicians better and more quickly diagnose diseases, said Phil Buckler, the company’s chief operating officer.

Many details of the Phase 1 trial remain undecided, such as the type and number of patients and location. The company has previously held trials internationally, but Buckler declined to provide any further details on them.

Cited in 2004 as one of the industry’s top emerging biotechnology companies by FierceBiotech, Kereos’ star has lost its luster in recent years. At the time, FierceBiotech cited Kereos’ imaging agent as the catalyst for its selection and mentioned that the product could be in clinics as soon as 2005. Buckler was reluctant to discuss much about what caused the apparent reversal of the company’s fortunes, but stressed he’s confident in Kereos’ future.

“We’ve been working hard in the labs developing our products, determining which one is going to take the lead,” is all Buckler would say about how the company has spent recent years.

Kereos is also working to develop a chemotherapeutic that would destroy solid tumors. The so-called “nanobee” technology is based on an ingredient in bee venom and was the subject of a 2009 Wall Street Journal article.

Buckler said the company plans to begin preclinical studies of the technology in the coming months, with the goal of filing an Investigational New Drug Application with regulatory authorities by mid to late 2011.

Kereos currently has no CEO and isn’t looking for one, preferring to stay “lean and mean” and focused on product development, Buckler said. The company isn’t actively pursuing any venture funding, but may be in the market for a Series C round after it collects more clinical data. Buckler added that he’s always open to speaking with interested investors, however.

Kereos pulled in a $20 million Series B round in 2005. That round was led by Prolog Ventures, Triathlon Medical Ventures, Charter Life Sciences and RiverVest Venture Partners.