Ariceum Therapeutics extends Series A to €47.75m

The Series A financing was co-led by new investors Andera Partners and Earlybird Venture Capital. Existing investor Pureos Bioventures doubled its original investment in the cancer diagnostics and therapeutics specialist.  As part of the investment, Olivier Litzka, Partner at Andera Partners, and Christoph Massner, Principal at Earlybird, joined the  Board of Directors.

Ariceum said it intends to use the proceeds from the financing to advance its clinical pipeline, particularly its lead candidate ¹⁷⁷Lu-satoreotide tetraxetan (satoreotide). The antagonist of the somatostatin type 2 (SST₂) receptor, which is  overexpressed in many neuroendocrine, hard-to-treat cancers, acts as a theranostic for both the diagnosis and treatment of tumours expressing the SST₂ receptor. Satoreotide is in early clinical development and has been administered to more than 100 patients including more than 150 therapeutic administrations in different indications.

The drug candidate has been licenced form Ipsen.