Portfolio company Artios Pharma raises $153m
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FOR RELEASE ON |
27 July 2021 |
IP Group plc - Portfolio company Artios Pharma raises $153m (£110m*)
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, notes that portfolio company Artios Pharma Limited ("Artios" or "the Company"), a leading DNA Damage Response (DDR) company exploiting a broad DDR-based platform and small molecule drug discovery capabilities to develop a diverse pipeline of product candidates for the treatment of cancers, has completed a $153 million (£110 million*) Series C financing to fund further development of its clinical-stage pipeline.
The financing was co-led by Omega Funds and TCG X. Additional investors include Avidity Partners, Invus, Deep Track Capital, Sofinnova Partners, Tetragon Financial Group, RTW Investments LP, Soleus Capital, Piper Heartland Healthcare Capital, CaaS Capital Management, and Schroders Capital. These new investors join existing investors IP Group, Arix Bioscience plc, SV Health Investors, Andera Partners, LSP (Life Science Partners), M Ventures, Pfizer Ventures and Novartis Venture Fund who also continue to support Artios through their participation.
Artios is actively developing a pipeline of potentially best-in-class and first-in-class DDR product candidates 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 tumors where DNA damage response factors have been lost or down regulated will lead to cancer cells being selectively destroyed without harming normal cells. This creates an opportunity for such products to be used with existing and future therapies to kill cancer.
This financing follows an $84 million (£65 million) Series B fundraise concluded in August 2018 and yields total capital raised to date from investors and strategic partners of more than US$320 million. IP Group is reviewing the impact of the fundraising on the carrying value of the asset but does not anticipate a material change in its value.
*GBP equivalents calculated using 1.39 USD/GBP.
For more information, please contact:
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IP Group plc |
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Greg Smith, Chief Financial Officer |
+44 (0) 20 7444 0050 |
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Charlotte Street Partners |
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David Gaffney |
+44 (0) 7854 609998 |
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Andrew Wilson |
+44 (0) 7810 636995 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.
For more information, please visit our website at www.ipgroupplc.com .
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