Araris Biotech AG closes seed financing round of CHF 2.5 million
Six months following its incorporation, Araris Biotech has closed an oversubscribed seed financing round of CHF 2.5 million from Redalpine, Schroder Adveq and VI Partners. The proceeds will flow into the development of a pipeline of proprietary antibody-drug conjugates (ADCs). Founded in 2019 as a spin-off company from the Paul Scherrer Institute (PSI) and ETH Zurich, Araris Biotech is developing and commercializing a novel antibody-drug conjugate (ADC)-linker technology. ADCs combine antibodies binding to tumor cells with highly potent anti-cancer agents linked via a chemical linker. Obtaining a seed financing from VCs just six months after the incorporation of Araris validates the strong interest in our novel linker ADC technology. The funding will allow Araris to progress quickly towards generating key proof of principle data”, says Dragan Grabulovski, co-founder and chairman of the board.