Araris Biotech closes $24m Series A financing round
Swiss ADC maker Araris Biotech AG has added a $24m financing round to its CHF15.2m (S17.8m) seed round in 2020 to expand its portfolio of proprietary antibody drug conjugates.
The round was co-led by 4BIO Capital and Pureos Bioventures, with participation from new investors, including Wille AG and the Institute for Follicular Lymphoma Innovation and from existing investors VI Partners, Schroders Capital, btov Partners and Redalpine. Proceeds from the financing will be used to support the further development and advancement of Araris preclincial antibody-drug conjugate (ADC) candidates, created using the companys proprietary linker technology.
Araris Biotech AGs inker platform enables the attachment of any drug payload to off the shelf antibodies, without the need for prior antibody engineering. The resulting ADCs have shown very high activity at low doses and an improved therapeutic index compared to multiple FDA-approved ADCs. Araris is a spin-off company from the Paul Scherrer Institute (PSI) and ETH Zurich.
