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Arix Bioscience leads €20mln investment round that strengthens position in oncology

New investee company STipe Therapeutics is working on harnessing the immune response to target a range of tumours

Arix Bioscience PLC -

Arix Bioscience PLC (LON:ARIX) said it co-led a €20mln Series-A investment round in a spin-out from Aarhus University, Denmark, that further strengthens its position in oncology.

STipe Therapeutics is working on harnessing the immune response to target a range of tumours, both directly and in combination with other drugs.

Its discoveries exploit a new mechanism in the stimulator of interferon genes, or STING pathway. This is a major driver of innate immunity and a regulator of the production and formation of tumours and auto-immune disorders.

The other co-lead was Denmark’s Novo Holdings, while also involved in the fundraiser were Wellington Partners Life Science Venture Capital Management and Sunstone LSV General Partner IV.

Dr Christian Schetter, entrepreneur-in-residence at Arix, has been appointed STipe’s executive chairman, while Jonathan Tobin, the investment director of the UK-listed venture capital company, is also joining the board.

Arix chief executive Joe Anderson said: “STipe adds a new approach to developing breakthrough cancer therapies within our portfolio. 

“We are excited about STipe’s novel angle on STING biology which we believe has the potential to enhance efficacy and safety compared with other innate immune targeting technologies.”

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Price: 117.5 GBX

LSE:ARIX
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Market Cap: £159.27 m
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