IP Group portfolio company completes Series C financing
IP Group
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17:05 19/04/24
Intellectual property-based business investor IP Group said on Tuesday that portfolio company Artios Pharma had completed a $153.0m Series C financing to fund the further development of its clinical-stage pipeline.
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IP Group said Artios launched the fundraiser as part of its efforts to actively develop its pipeline of potentially best-in-class and first-in-class DNA damage response product candidates.
The FTSE 250-listed firm highlighted that Artios' financing followed an $84.0m Series B fundraiser, concluded in August 2018.
IP Group stated it was reviewing the impact of the fundraising on the carrying value of the asset but did not anticipate "a material change" in its value as a result.
As of 0915 BST, IP Group shares were down 0.68% at 117.0p.