IP Group PLC (LON:IPO), the developer of intellectual property-based businesses, has drawn attention to a successful financing by its portfolio company Artios Pharma.
The £65mln series B financing was significantly oversubscribed, IP said.
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IP Group has committed to invest a total of £5.0mln, in tranches, in this round of financing; IP’s investment is subject to the achievement of certain milestones. The group invested £2.3mln in the first tranche of the fundraising.
Artios is developing a pipeline of DNA damage response therapies.