Keros Therapeutics is a clinical-stage biopharmaceutical company developing protein therapeutics that target dysfunctional signaling in the transforming growth factor-beta (TGF-β) family, which plays a central role in regulating growth and repair of skeletal muscle, bone, and other tissues. The company's lead programs are rinvatercept, a ligand trap designed to increase muscle regeneration and strength for neuromuscular disorders such as Duchenne muscular dystrophy and amyotrophic lateral sclerosis, and elritercept, a modified trap fused to an antibody domain intended to boost red blood cell and platelet production for blood disorders including myelodysplastic syndromes and myelofibrosis. Keros generates revenue through upfront and milestone payments from licensing partnerships—notably a substantial deal with Takeda Pharmaceuticals for elritercept development and commercialization rights—and will receive tiered royalties on future product sales.