Artios Announces $153 Million (£110 Million) Series C Financing Led by Omega Funds and TCG X
- Funding propels Artios’ ability to progress beyond synthetic lethality and to continue the exploitation of the full spectrum of oncology vulnerabilities presented by the DNA Damage Response through deployment of Artios’ DDR-based platform and small molecule drug discovery capabilities
- Financing supports expansion of potentially best-in-class ATR inhibitor and first-in-class highly selective Polθ inhibitor programs by enabling clinical development in multiple tumor settings and biological backgrounds of single agent and combination therapies
CAMBRIDGE, United Kingdom and NEW YORK, July 27, 2021 (GLOBE NEWSWIRE) -- Artios Pharma Limited (Artios), 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 cancer, today announced the completion of a US$153 million (£110 million) Series C financing to fund further development of its promising 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 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.
Michelle Doig, Partner, Head of Corporate Development, Omega Funds, said: “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 said: “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, said: “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 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.
For more information, please contact:
Abid Ansari, Chief Financial Officer
Ligia Vela Reid
About Artios Pharma Limited
Artios is a leading DNA Damage Response (DDR) company focused on developing first-in-class treatments for cancer. The Company is led by an experienced scientific and leadership team with proven expertise in DDR drug discovery, including the discovery and early development of the PARP inhibitor Olaparib. It has a unique partnership with Cancer Research UK (CRUK), and collaborations with leading DNA repair researchers worldwide, such as The Institute of Cancer Research (ICR), London, the Netherlands Cancer Institute (NKI) and the Crick Institute, London. Artios is building a pipeline of next-generation DDR programs to target hard to treat cancers, including its ATR inhibitor ART0380 in treating DDR defective tumors, which is in a Phase 1 clinical study, and the potential first-in-class Polθ inhibitor ART4215 for monotherapy and combination treatments. In December 2020, Artios entered into a collaboration agreement with Merck KGaA, Darmstadt, Germany to identify and develop precision oncology medicines targeting nucleases. Merck KGaA, Darmstadt, Germany has the right to opt into exclusive development and commercialization of compounds on up to eight targets with Artios to receive up to US$860 million total milestones per target. In April 2021, Artios entered into a collaboration with Novartis to identify DDR targets to use with Novartis’ proprietary radioligand therapies with Artios receiving a US$20 million up-front payment in addition to near term research funding to support the collaboration. Artios is eligible to receive up to $1.3 billion in discovery, development, regulatory and sales-based milestones in addition to royalty payments. Artios is based at the Babraham Research Campus in Cambridge, UK, with an office in New York City, USA.
About Omega Funds
Founded in 2004, Omega Funds is a leading international investment firm that creates and invests in life sciences companies that target our world's most urgent medical needs. Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds' portfolio companies have brought 39 products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine and others. Please visit www.omegafunds.com for additional information.
About TCG X
TCG X is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCG X invests in both private and public companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCG X has investment teams in Palo Alto and New York City. For more information, please visit www.tcgcrossover.com.