StockMarketWire.com - intellectual property-based businesses investor IP Group said its portfolio company Artios Pharma had completed $153 million series C financing to fund further development of its clinical-stage pipeline.

Artios is a DNA damage response company exploiting a broad DDR-based platform and small molecule drug discovery capabilities to develop a diverse pipeline of product candidates for the treatment of cancers.

'This financing follows an $84 million (£65 million) Series B fundraise concluded in August 2018 and yields total capital raised to date from investors and strategic partners of more than US$320 million,' the company said.

'IP Group is reviewing the impact of the fundraising on the carrying value of the asset but does not anticipate a material change in its value,' it added.






Story provided by StockMarketWire.com