Araris Biotech has successfully concluded its financing round. Based in Au in the canton of Zurich, the pioneering company in linker technology for antibody-drug conjugates (ADC) was able to raise US$24 million. The spin-off from the Swiss Federal Institute of Technology in Zurich and the Paul Scherrer Institute therefore brings its total funds raised to date to US$40 million.
According to a press release, the round was co-led by venture capitalist 4BIO Capital headquartered in London and Pureos Bioventures from Pfäffikon in the canton of Schwyz. New investors came in the shape of Wille AG from Zug and the Institute for Follicular Lymphoma Innovation, based in Diamond Bar, California. The round also included participation from existing investors.
By developing more efficient conjugation technologies, selective antibody-drug conjugates can expand the treatment options for cancerous cells. This innovative method attaches cytotoxic compounds through linkers to antibodies for targeted drug delivery specifically to cancer cells, often referred to as a “Trojan Horse” approach.
As it moves closer towards clinical development, Araris “continues to make waves in the industry with its pioneering linker technology,” said Dmitry Kuzmin, managing partner at 4BIO Capital. “Our linker technology has enabled us to create ADCs in a single conjugation step,” explained Philipp Spycher, CEO at Araris Biotech. They have “an ability to address the limitations of current ADCs on the market”.
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