Biotech firm focused on cancer raises £65m
A Cambridge-headquartered biotechnology company focused on developing innovative treatments for cancer has raised £65 million following high interest from investors.
Artios Pharma's Series B financing was led by Andera Partners (formerly EdRIP) and Life Sciences Partners (LSP), with participation from Pfizer Ventures and Novartis Venture Fund (NVF).
Existing shareholders Arix Bioscience, SV Health Investors, M Ventures, IP Group plc and AbbVie Ventures also participated in the fundraise.
Artios chief executive Niall Martin said the funding will help the company develop and deliver its DNA Damage Response (DDR) targeted therapies to cancer patients.
"This investor syndicate creates a very strong and committed shareholder base with a track record of supporting successful next generation companies," he added.
"The oversubscribed Series B fundraise is a strong endorsement of our world-leading development pipeline and reflects the opportunity for DDR to yield new breakthrough oncology products."
Artios is currently developing a pipeline of DDR therapies identified from a global network of researchers, including through Cancer Research UK.
In conjunction with the Series B financing, Raphael Wisniewski from Andera Partners, Rene Kuijten from LSP and Barbara Dalton from Pfizer Ventures will join the board of Artios as directors and Florian Muellershausen from NVF will join as an observer.
Wisniewski said: "We believe Artios' DDR programmes have the potential to bring real impact to cancer patients. DDR is an exciting field of biology, which has been clinically validated by the first generation PARP inhibitors currently on the market."