Artios Pharma, the DNA Damage Response (DDR) company, has completed a $84 million Series B financing following high interest from investors.
The oversubscribed financing was led by Andera Partners and LSP (Life Sciences Partners), with participation by additional new investors Pfizer Ventures and Novartis Venture Fund (NVF).
Artios’ existing shareholders Arix Bioscience, SV Health Investors, M Ventures, IP Group plc and AbbVie Ventures also participated in the fundraise.
Artios is actively developing a pipeline of highly promising first-in-class DDR therapies identified from a global network of leading researchers in the DDR field, including through Cancer Research UK.
The inhibition of novel DNA repair targets like Polθ, in tumours where DNA damage response factors have been lost or down regulated, will lead to cancer cells being selectively killed without harming normal cells. This creates an opportunity for such products to be used both in monotherapy and in combination with existing and future cancer therapies.
Raphael Wisniewski, Partner of Andera Partners, 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.
“The new funds will allow Artios to advance its portfolio of first-in-class, small molecule DDR programmes including its lead programme targeting DNA polymerase theta (Polθ), through clinical proof of concept trials.”
Artios CEO Niall Martin added: “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.”