IP Group PLC Artios Pharma completes £65m financing
10 August 2018 - 4:11PM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
10 August 2018
FOR RELEASE ON 10 August 2018
IP Group plc - Portfolio company Artios Pharma completes GBP65m
financing
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
note that its portfolio company Artios Pharma Limited ("Artios" or
"the Company"), has announced the completion of a GBP65 million
Series B financing.
The financing, which was significantly oversubscribed, was led
by Andera Partners (formerly EdRIP) and LSP (Life Sciences
Partners), with participation by additional new investors Pfizer
Ventures and Novartis Venture Fund (NVF). Artios' existing
shareholders (IP Group, Arix Bioscience, SV Health Investors, M
Ventures and AbbVie Ventures) also participated in the round.
Artios, a leading DNA Damage Response (DDR) company developing
innovative new treatments for cancer, is actively developing a
pipeline of highly promising 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 Pol , in tumours where DNA damage
response factors have been lost or down regulated, will lead to
cancer cells being selectively killed without harming normal cells.
This creates an opportunity for such products to be used both in
monotherapy and in combination with existing and future cancer
therapies.
IP Group has committed to invest a total of GBP5.0 million of
the round, which is tranched and subject to the achievement of
certain milestones. The Group has invested GBP2.3 million in the
first tranche of the fundraising.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Martha Walsh +44 (0) 7876 245962
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
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END
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