Biotech companies researching novel therapies continue to attract investor interest, with the latest being Artios, which just raised $84 million in a Series B financing round.
The financing round attracted global giants like Pfizer and Novartis, in a financing round led by Andera Partners and Life Science Partners. Existing shareholders that participated in the financing round are Arix Bioscience, SV Health Investors, M Ventures, IP Group plc, and AbbVie Ventures also participated.
“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,” Artios Chief Executive Officer, Niall Martin said.
A partner at Andera Partners, Raphael Wisniewski, said they believed “Artios’ DDR programmes have the potential to bring real impact to cancer patients”.
Artios focuses on DNA Damage Response (DDR) treatment methods and hopes that it can use the funding to take some of its programs to trial.
The company explained that cancers change their DDR pathways to allow mutations in their DNA so that they can evolve and adapt. It said this is what causes cancers to overcome many current therapies adding that their novel therapy worked by targeting the remaining DDR pathways, which have been proven to selectively kill cancer cells through a concept known as “synthetic lethality.”
Other biotech companies involved in researching novel therapies are also gaining traction, including BioCardia, co-founded by renowned cardiologist Simon Stertzer. Just recently, UK-based firm, Orchard Therapeutics received $150 million in a Series C financing round.
Another U.K company, Healx launched with $10 million in funding and Swiss-based Therachon closed a successful $60 million financing round, moving it closer to a drug trial for achondroplasia.
Simply put, healthcare startups are revolutionizing treatment so patients can live their healthiest lives.