Thursday, February 22, 2024
HomeFunding Leiden-based Biotechnology Company Artica Therapeutics Secures €12M in Seed Funding

[Funding alert] Leiden-based Biotechnology Company Artica Therapeutics Secures €12M in Seed Funding

Leiden-based biotechnology company Artica Therapeutics secures €12M in seed funding The round was co-led by Thuja Capital and Seroba, with participation from Innovation Quarter and founding investor BGV.
Arwin Ridder – COO (left) , Tjeerd Barf – CEO and Founder at Artica Therapeutics B.V.(Right)

Leiden-based biotechnology company Artica Therapeutics secures €12M in seed funding The round was co-led by Thuja Capital and Seroba, with participation from Innovation Quarter and founding investor BGV.

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Proceeds from the financing will be used to advance Artica’s small molecule pipeline of novel covalent therapies. Artica’s board of directors will include Michel Briejer (Thuja), Alan O’Connell (Seroba), Diede Brunen (BGV), and Tjeerd Barf (Artica).

Tjeerd Barf, co-founder and CEO of Artica said, “At Artica, we have created a unique approach to developing covalent drugs. We have more than a decade of experience in covalent binding technology, unique assay capabilities, ability to select optimal targets and importantly a track record of successful delivery of approved and marketed covalent-based drugs, We have a patient-centric approach, and the primary goal is to advance our innovative new drug candidates for patients suffering from severe inflammatory or immunological conditions. We are confident that we have the right partners in our syndicate to support us in executing our vision.”

Michel Briejer, Managing Partner at Thuja said,“Artica’s team harbours top-notch expertise regarding covalent drug development, which is an important reason to invest in Artica. We are extremely happy to be able to support Artica’s mission to develop beter treatments addressing unmet medical needs,”

Alan O’Connell, a Partner at Seroba said: “We have been tracking the covalent space for sometime and were atracted by the ability of Artica to harness its huge potential. We believe this approach can help identify the next generation of therapies required to address the significant unmet needs in autoimmune disease,” he added, “The quality and track record of the Artica team was also a key atraction, and we look forward to working with Tjeerd and the team to unlock the promise of their technology.”

About Artica Therapeutics

Artica Therapeutics B.V. and its seasoned team started operations in 2020 and was supported by preSeed financing from BioGeneration Ventures. Artica is dedicated to developing novel small molecule medicines for inflammatory and autoimmune indications. Artica is at the forefront of covalent binding technology as well as in label-free cellular-based screening approaches.

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The unique combination of these capabilities allows rapid progression of the best drug candidates that have unprecedented and superior characteristics, creating novel and highly selective therapies for patients with unmet medical need.

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