Company: KROS
Filing Date: 2025-05-09
Form Type: DEFA14A
Source: 0001104659-25-046272
Chunk: 2

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-09
Form: DEFA14A
Chunk 2
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 if the Board
did not add Daniel Schneeberger, Chief Investment Officer of ADAR1, to the Board.

Ultimately, ADAR1’s self-serving campaign threatens
to distract focus at this critical time from the Board’s top priority – completing its review of strategic alternatives to
maximize value for all stockholders.

The Keros Board comprises nine directors, all of whom are
independent except for the Company’s CEO. This includes four representatives of Keros stockholders, two of whom are representatives
of Pontifax, the Company’s second largest stockholder. Collectively, the Board represents diverse perspectives and brings significant
experience across the biotechnology industry, including drug development and commercialization, capital allocation and business development.
The Board’s Nominating and Corporate Governance Committee regularly considers Board composition in the context of the Company’s
evolving business needs and will continue to seek out directors with complementary skillsets which enhance the Board’s ability to
oversee the continued execution of the Company’s strategy to maximize stockholder value.

The Board of Directors continues to recommend stockholders vote “FOR”
its three director nominees, Mary Ann Gray, Ph.D, Ran Nussbaum and Alpna Seth, Ph.D, at the upcoming 2025 Annual Meeting, which is scheduled to be
held on Wednesday, June 4, 2025, at 9:00 a.m. Eastern time.

Goldman Sachs & Co. LLC is serving as Keros’ financial
advisor, and Cooley LLP is serving as legal counsel.

About Keros Therapeutics, Inc.

Keros is a clinical-stage biopharmaceutical company focused on developing
and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of
the TGF-ß family of proteins. Keros is a leader in understanding the role of the TGF-ß family of proteins, which are master
regulators of the growth, repair and maintenance of a number of tissues, including blood, bone, skeletal muscle, adipose and heart tissue.
By leveraging this understanding, Keros has discovered and is developing protein therapeutics that have the potential to provide meaningful
and potentially disease-modifying benefit to patients. One of Keros’ product candidates, cibotercept (KER-012), is being developed
for the treatment of pulmonary arterial hypertension and for the treatment of cardiovascular disorders. Keros’ second product candidate,
KER-065, is being developed for the treatment of neuromuscular diseases. Keros