Artios has recently concluded a substantial funding round, securing $115 million in an oversubscribed Series D financing. This influx of capital is set to bolster the biotech firm’s cutting-edge research in DNA damage response (DDR) therapies. Artios’ focus is on creating medications that target DDR pathways, aiming to enhance patient outcomes for difficult-to-treat cancers. With this new funding leading the expansion, Artios looks to expand its pipeline and push towards commercialization, potentially impacting how cancer therapies are developed and applied.
Artios has been consistently recognized for its innovative approaches in the DDR field. Compared to earlier funding rounds, this latest capital boost marks an important milestone in the company’s growth, allowing it to advance its clinical-stage candidates, including the ATR inhibitor alnodesertib and the DNA Polymerase theta inhibitor ART6043. The company’s pre-clinical programs, such as DDRi-ADCs, further showcase its commitment to revolutionizing cancer treatment by targeting the remaining survival mechanisms of cancer cells.
How will the funds be utilized?
The funds from the Series D round will be strategically allocated to enhance the clinical exploration of Artios’ leading candidate, alnodesertib, specifically targeting ATM-negative patients with advanced pancreatic and colorectal cancer stages. These cancers are known for having low median survival rates, making this development timely. Moreover, the financing will kickstart a Phase 2 clinical trial for ART6043, designed for patients with BRCA-mutant HER2-negative breast cancer.
Who supported the funding round?
Investment was led by founding investor SV Health Investors and new investor RA Capital Management. Notably, the round also saw fresh participation from Janus Henderson Investors, alongside continued support from existing stakeholders. The combined efforts of these investors highlight a strong belief in Artios’ mission and its potential to offer novel cancer therapies.
Chief Executive Officer Mike Andriole expressed optimism regarding the developments, stating,
“This Series D accelerates our potential path to registration for both alnodesertib and ART6043, broadening development for the next generation of DNA damage response (DDR) therapeutics to indications among the highest of unmet need across pancreatic, colorectal, and breast cancers…”
Nikola Trbovic from SV Health Investors confirmed their ongoing support as Artios evolves from pioneering DDR technology into a well-established firm,
“We are thrilled to have supported Artios’ evolution, from an early-stage DDR pioneer when we founded the company to the established company it has become, distinguished by a promising and differentiated pipeline.”
Support from seasoned investors and new players demonstrates confidence in Artios’ strategy and potential for long-term value creation. The appointment of new CEO Mike Andriole and securing recent funds signify key steps toward commercial aspirations, marking an extensive period of growth for the company.
Artios continues to stay at the forefront of DDR advancements by leveraging its innovative drug pipeline. This recent financial injection promises to support progress in areas with unmet medical needs, showcasing potential for groundbreaking cancer therapies with strategic investments to back further research.
