As a spin off from the University of Zurich and the LICR, CT Atlantic is uniquely positioned to benefit from centers of scientific and clinical excellence located on both sides of the Atlantic. Both institutions have contributed substantial intellectual property and know-how to CT Atlantic, mainly focusing on novel approaches to treat certain types of cancer using antibodies derived from cohorts of patients who pursue a remarkably stable disease course.
CT Atlantic is the first investment made by QureInvest, a specialist biotech investment company based in Zurich, Switzerland. The proceeds of this financing event will be used to advance CT Atlantic's research and technology programs in order to eventually enter into a strategic alliance with a major pharmaceutical company active in the field of immunotherapy.
“We are very proud to have completed this substantial Series A financing round of CHF10M with QureInvest as an exclusive and highly experienced investor”, stated Prof. Dr Alexander Knuth, Chairman and President of CT Atlantic. “Our scientific approach matches QureInvest's investment philosophy centered on striking an early-stage alliance with a high profile industry partner. Cancer remains an enormous challenge for society. Our focus on human-derived antibodies is of value for various, both passive and active immunotherapeutic approaches that can be applied individually or in combination. Additionally, such antibodies should have an inbuilt safety profile by nature. Upon showing efficacy in our model systems, they are prime candidates for industrial development as drug candidates.”
Dr Edward Stuart, Founding CEO of CT Atlantic, commented: “The industry currently faces a number of pressing issues, including the need for innovative and safe drug candidates to fill pipelines and replace products coming off patent. At the same time, many biotech companies are unable to access sufficient financial resources to support the preclinical and clinical development of their products. Our scientific and business approach provides one potential solution to such issues and we are delighted with the support from QureInvest. CT Atlantic has established a strong platform using clinical observations and resources as the basis for the research and development of new cancer drugs. Together with our partners, among them the University of Zurich and the Ludwig Institute, we are ideally positioned to bring CT Atlantic’s outstanding science forward.”
About CT Atlantic AG
CT Atlantic AG is a Swiss biotechnology company focused on the identification and development of human-derived antibodies for the treatment of cancer. Founded by Prof. Dr Alexander Knuth in 2008, CT Atlantic AG is a spin-off from the University of Zurich, Switzerland, and the International Ludwig Institute for Cancer Research, (New York, USA). CT Atlantic’s founding management team includes Dr Christoph Esslinger – Chief Technology Officer and Dr Martin Treder – Chief Scientific Officer who were previously in senior positions at Neurimmune Therapeutics AG and U3 Pharma AG respectively. The company's corporate headquarters and research facility are located in Zurich.
