Arix Bioscience-backed Artios secures USD153m in Series C financing led by Omega Funds and TCG X
Artios Pharma Limited (Artios), a 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 cancer, has completed a USD153 million (GBP110 million) Series C financing to fund further development of its clinical-stage pipeline.
The oversubscribed 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 Arix Bioscience plc, SV Health Investors, Andera Partners, LSP (Life Sciences Partners), M Ventures, Pfizer Ventures, IP Group plc, and Novartis Venture Fund who also continue to support Artios through their participation.
In connection with the close of the Series C financing, Michelle Doig, Partner, Head of Corporate Development, Omega Funds and Chen Yu, Founding Managing Partner, TCG X, will join Artios’ Board of Directors.
Doig says: “Artios’ deep expertise in DNA damage response and novel approach to drive the search for new and better cancer treatments is an ideal match for Omega Funds. Supporting Artios in its mission to advance its portfolio of best-in-class and first-in-class small molecule DDR programs, including its DNA polymerase theta (Polθ) inhibitor, which is poised to enter the clinic, is a welcome addition to our portfolio of life science investments targeting our world's most urgent medical needs.”
Dr Chen Yu, Founding Managing Partner, TCG X, says: “Artios’ DDR programs have been validated by large pharma partnerships which speak to the promise of their science and strategy. Artios’ first-in-class platform for developing novel DDR drugs, including their targeted novel Polθ inhibitor with synergies with PARP inhibitors, provides a new potential mode of targeted cancer treatment in identified DDR-defective tumor populations. By investing in this financing round we are creating multiple avenues of value creation for our funds’ investors.”
Dr Niall Martin, Chief Executive Officer, Artios, says: “We are thrilled to have such great investors support our vision in this latest Series C fundraise co-led by Omega Funds and TCG X alongside a premier group of new and existing investors. This is an exciting time for Artios as we continue to progress our potential best-in-class ATR program in the clinic and prepare to launch our Polθ program into first-in-human studies in the second half of 2021. By ensuring that our DDR platform and pipeline programs are well-funded, we have successfully cleared a runway to execute our near-term clinical objectives. Having this caliber of strategic investors supporting our mission to bring next-generation DDR programs targeting hard to treat cancers to market adds further validation to Artios’ cancer-killing DDR Platform.”
Artios is actively developing a pipeline of highly promising potentially best-in-class and 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 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 a USD84 million (GBP65 million) Series B fundraise concluded in August 2018 and yields total capital raised to date from investors and strategic partners of more than USD320 million.