Ariceum Therapeutics Raises €25M; Extends Series A to €47.75M
Summary
Ariceum Therapeutics, a Berlin, Germany-based biotech company developing radiopharmaceutical products, raised an additional €25M in the Series A financing announced in June 2022. The extension round was co-led by new investors Andera Partners and Earlybird Venture Capital, with participation from existing investor Pureos Bioventures, now doubling its original investment in the company. Led by CEO Manfred Rüdiger, Ariceum Therapeutics is a clinical stage radiopharmaceutical company focused on the diagnosis and precision treatment of certain neuroendocrine and other aggressive, hard-to-treat cancers. Its lead targeted systemic radiopharmaceutical product, 177Lu-satoreotide tetraxetan (“satoreotide”) is an antagonist of the somatostatin type 2 (SST2) receptor which is overexpressed in neuroendocrine tumours (NETs) and some aggressive cancers such as small cell lung cancer (SCLC), all of which have few treatment options and poor prognosis. Satoreotide is being developed as a ‘theranostic’ pair for the combined diagnosis and targeted radionuclide treatment of these tumours.
Funding
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