GCV Synergize 2018
Skip Content

10 August 2018

Artios absorbs $84m series B

Existing shareholder IP Group has returned to back an $84m series B round for Artios, which also attracted corporates Pfizer, Novartis, AbbVie and Merck Group.

Author: Thierry Heles, editor

UK-based cancer-focused biotechnology company Artios Pharma raised £65m ($84m) in an oversubscribed series B round today that featured commercialisation firm IP Group.

Investment firms Andera Partners and LSP co-led the round, which also included Pfizer Ventures, Novartis Venture Fund, M Ventures and AbbVie Ventures, respective corporate venturing units of pharmaceutical firms Pfizer, Novartis, Merck Group and AbbVie.

VC firms Arix Bioscience and SV Health Investors also provided capital.

The round is tranched and subject to Artios achieving certain milestones. IP Group supplied $2.9m out of a $6.4m total commitment for the first close, though further details were not revealed.

Founded in 2016, Artios is working on cancer therapies that inhibit DNA damage response (DDR) pathways, which enable tumours to mutate and evade treatment. The approach has the potential of killing cancer cells while leaving healthy cells intact.

Artios has licensed its lead candidate, PolƟ, from charity Cancer Research UK, with a second program licensed from Masaryk University.

Raphael Wisniewski, partner at Andera, Rene Kuijten, managing partner at LSP, and Barbara Dalton, vice-president of Pfizer’s Worldwide Business Development and managing partner of Pfizer Ventures, have joined the board of directors.

Florian Müllershausen, principal at Novartis Venture Fund, has joined the board as an observer.

Artios previously secured $36m in a series A round in 2016, according to its latest press release, though the figure was reported as $33.2m at the time. It is not clear where the additional funding has come from.

The series A round was led by SV Health Investors – then called SV Life Sciences – and included Touchstone Innovations, the commercialisation firm spun out of Imperial College London known as Imperial Innovations at the time and since acquired by IP Group.

M Ventures, AbbVie Ventures, Arix Bioscience and CRT Pioneer Fund, an investment vehicle set up by Cancer Research UK's tech transfer arm Cancer Research Technology (CRT) and the European Investment Fund, also contributed to the series A round.

Niall Martin, chief executive of Artios, said: “We are delighted to welcome Andera Partners, LSP, Pfizer Ventures and Novartis Venture Fund to Artios and I would like to thank our existing investors for their continued support, which will help us develop and deliver our exciting 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. 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.”

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

  • Linkedin
  • Mail
  • Rssfeed