IP Group PLC (LSE:IPO) has welcomed a major funding milestone at its portfolio company Artios Pharma, after the DNA-damage-response specialist closed an oversubscribed $115 million Series D round that will push two of its most advanced cancer programmes deeper into clinical development.
Cambridge-based Artios is developing treatments that target weaknesses in the way cancer cells repair their DNA, a field known as DDR. The fresh capital will allow the company to broaden phase II testing of its lead candidate, alnodesertib, in hard-to-treat tumours.
The drug has shown encouraging early-stage results in ATM-negative solid cancers, a genetic subtype with no approved targeted treatments, and recently secured US Food and Drug Administration Fast Track designation.
The new funds will support expanded enrolment in pancreatic and colorectal cancer cohorts, both areas where survival times remain measured in months.
Artios will also initiate a phase II randomised trial for its second clinical asset, ART6043, a Polθ inhibitor targeting BRCA-mutant, HER2-negative breast cancer.
Data presented at September’s ESMO conference suggested a promising safety and activity profile in early testing. Beyond these two drugs, the firm is advancing a pipeline of DDR-linked antibody–drug conjugates, with a lead candidate expected to be named early next year.
IP Group contributed £5.5 million to the round and now holds 6.8% of Artios on an undiluted basis.
The financing was co-led by SV Health Investors and new backer RA Capital Management, with participation from Janus Henderson Investors and a roster of existing shareholders, including Pfizer Ventures, Novartis Venture Fund, Sofinnova Partners and Schroders Capital.
Greg Smith, chief executive of IP Group, said Artios exemplifies the UK’s strength in life sciences.
“We have backed Artios for almost a decade and are delighted to see such strong support from both new and existing investors. Artios demonstrates the UK’s potential to deliver world-leading breakthroughs with real commercial promise,” he told investors.