Artios Pharma Ltd. raised £65 million in an oversubscribed series B financing round, participated by Arix Bioscience PLC and other new and existing institutional investors.
Arix Bioscience committed to investing £8 million in two tranches and a further £600,000 by purchasing the stake of another existing Artios shareholder. The company also completed its remaining £1.5 million investment commitment from a series A financing.
Following the transaction, Arix holds a 12.4% stake in Artios. Arix noted that Jonathan Tobin will remain on the Artios board.
The series B financing round was participated by new institutional investors including Andera Partners, Life Sciences Partners BV, Pfizer Inc.'s venture capital arm and Novartis Venture Funds. Other existing shareholders also joined in the financing, including SV Health Investors LLC, M Ventures, IP Group PLC and AbbVie Ventures.
Cambridge, U.K.-based Artios Pharma will use the funds raised to develop treatments that target small-molecule DNA damage response, particularly its lead program for DNA polymerase theta.