> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Keros Therapeutics Triggers $20 Million Takeda Milestone — Separate $20 Million Payment Received - URL: https://www.bullished.co/keros-therapeutics-triggers-20-million-takeda-milestone-separate-20-million-payment-291a9b44/ - Published: 2026-11-06T14:11:51.000Z - Updated: 2026-11-06T14:11:51.000Z - Description: Takeda is running three late-stage elritercept trials, with payments tied to dosing the first patients. - Author: Matteo Parrino - Tags: SEC Filings, KROS, Industry: Healthcare [Keros Therapeutics](https://www.bullished.co/tag/kros/), which develops drugs not yet approved for sale, has triggered a [$20 million milestone](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000067/kros-20261105.htm?ref=bullished.co) under its elritercept license with Takeda, according to an SEC filing Thursday and its accompanying investor presentation. Keros also says it has received a separate $20 million payment tied to another trial of the same drug. ## Two Trials, Different Payment Status The myelofibrosis trial generated the newly triggered milestone when Takeda dosed its first patient. The payment Keros has already received relates to the first patient treated in Takeda’s [myelodysplastic syndromes trial](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000067/keros-corporatepresentat.htm?ref=bullished.co). Those are distinct steps for Keros: one milestone has been reached, while the other payment is already in hand. Both concern elritercept, which is being developed to treat anemia and low platelet counts. Takeda is conducting three late-stage trials of the drug. ELRiSE MF targets myelofibrosis; ELRiSE MDS studies first-line treatment for myelodysplastic syndromes; and RENEW studies second-line treatment for those syndromes. ## Payments Beyond The Upfront Cash The milestones sit within a larger licensing arrangement. Keros previously reported a [$200 million upfront](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000050/a826corporatepresentatio.htm?ref=bullished.co) payment in its August 3 presentation, along with eligibility for more than $1.1 billion in further payments tied to development, approvals and commercial progress. The previously reported payment categories include $90 million for development, $280 million for commercial milestones and $740 million for sales milestones. Keros also previously reported receiving $10 million in 2025 for dosing the first patient in RENEW. The agreement additionally provides tiered royalties on net sales, ranging from a little over 10% to close to 20%. Potential milestone payments remain contingent on reaching the corresponding milestones. ## Takeda Runs The Blood-Disorder Program Takeda holds the exclusive rights to [develop and commercialize](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000067/keros-corporatepresentat.htm?ref=bullished.co) elritercept, including manufacturing, outside mainland China, Hong Kong and Macau. The license became effective on January 16, 2025. Elritercept forms Keros’ hematology franchise. Its separate neuromuscular franchise centers on rinvatercept, which it is developing for Duchenne muscular dystrophy and amyotrophic lateral sclerosis. Both programs belong to Keros’ focus on protein therapies that alter signaling pathways involved in tissue growth and repair. For the latest elritercept milestones, the cash distinction remains precise: the myelodysplastic syndromes payment has been received; the myelofibrosis milestone has been triggered. Learn - [Item 7.01: Regulation FD disclosure →](https://www.bullished.co/learn/8-k-items-explained/#item-701-regulation-fd-disclosure) From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples ### Sources - [8-K Filing — Keros Therapeutics, Inc. (KROS)](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000067/kros-20261105.htm?ref=bullished.co) — SEC EDGAR - [Exhibit keros-corporatepresentat.htm — Keros Therapeutics, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000067/keros-corporatepresentat.htm?ref=bullished.co) — SEC EDGAR - [Keros Therapeutics Reports Recent Business Highlights and](https://www.globenewswire.com/news-release/2026/11/05/3397005/0/en/keros-therapeutics-reports-recent-business-highlights-and-third-quarter-2026-financial-results.html?ref=bullished.co) — globenewswire.com - [8-K filed 2026-08-03 — Keros Therapeutics, Inc. (earlier disclosure)](https://www.sec.gov/Archives/edgar/data/0001664710/000166471026000050/a826corporatepresentatio.htm?ref=bullished.co) — SEC EDGAR ### More on Keros Therapeutics - [Keros Therapeutics Doses First Patient In Mid-Stage Rinvatercept Trial For Duchenne Muscular Dystrophy](https://www.bullished.co/keros-therapeutics-doses-first-patient-in-mid-stage-rinvatercept-trial-for-duchenne-b9bd4824/) - [Takeda To Pay Keros Therapeutics $20 Million As Late-Stage Blood Disorder Trial Doses First Patient](https://www.bullished.co/takeda-to-pay-keros-therapeutics-20-million-as-late-stage-blood-disorder-trial-doses-first-49a6b355/) [All Keros Therapeutics (KROS) coverage →](https://www.bullished.co/tag/kros/)