Switzerland-based Clinical-Stage Radiopharmaceutical Company ARTBIO Secures $90M in Series A Round Funding. This funding was co-led by Third Rock Ventures and an undisclosed healthcare fund. Additionally, seed lead investors F-Prime Capital and Omega Funds participated substantially.
Concurrent with the Series A closing, ARTBIO has appointed industry veterans Philippe Dasse, Pharm.D., as Chief Technical Officer and Daniel Rossetto as Head and Senior Vice President of Supply Chain and External Manufacturing. In these roles, Philippe and Daniel will lead the development and expansion of ARTBIO’s unique distributed manufacturing network in support of the company’s clinical pipeline.
Emanuele Ostuni, Ph.D., CEO of ARTBIO said, “We are thrilled to have the support of our new and existing investors, including Third Rock Ventures, F-Prime Capital and Omega Funds. These groups bring significant expertise in company scale-up and pipeline development that will be invaluable as we continue to progress our programs and pipeline, Next year will be an important one for the company as we advance our lead program, AB001, and our entire pipeline, while further developing a distributed manufacturing network with our AlphaDirect™ technology. Bringing Philippe and Daniel to the ARTBIO team also deepens our manufacturing expertise to ensure efficient manufacturing and seamless delivery of our novel Pb212 alpha radioligand therapies to patients.”
Jeff Tong, Partner at Third Rock Ventures said, “The foundational work conducted by the stellar team of experts at ARTBIO has established the potential of alpha radioligand therapies, and gives us great confidence that this team can revolutionize today’s cancer treatment paradigm, As ARTBIO is in a rapid scale-up phase, we are looking forward to supporting its growth by leveraging our deep expertise in discovery, development and operations.”
The appointments of Philippe and Daniel to the management team strengthen the company’s capabilities during this critical stage. In Philippe’s role as Chief Technical Officer, he will lead the development of ARTBIO’s proprietary AlphaDirect™ technology and establishment of the company’s distributed manufacturing network.
Ted Love, M.D., ARTBIO Board Chairman and Biotechnology Innovation Organization’s (BIO) Board Chairman said, “The strong Series A funding is a clear sign of the differentiated value proposition and potential of the ARTBIO platform and a recognition of the fast progress that the team has made, We are grateful to attract such high quality investors and associated board members whose deep experience in drug discovery and development as well as company building will serve us well as we continue driving our novel pipeline forward.”
ARTBIO is a clinical-stage radiopharmaceutical company redefining cancer care by creating a new class of alpha radioligand therapies (ARTs). The unique ARTBIO approach selects the optimal alpha-precursor isotope (Pb212) and tumor-specific targets to create highly effective and safe therapeutics.