Araris Biotech AG has announced a strategic investment from Samsung Ventures. According to the press release from the startup based in Au in the canton of Zurich, the South Korean venture capital company invested in Araris “within the framework of an independent deal.” The ongoing series A funding round is unaffected by this.
According to the information provided, the investment was effected by the Samsung Life Science Fund, which was jointly established by Samsung Biologics and Samsung C&T. It is managed by the investment company Samsung Ventures.
The spin-off from the Swiss Federal Institute of Technology Zurich and the Paul Scherrer Institute uses its proprietary linker technology to create antibody-drug conjugates (ADCs). This innovative therapeutic approach uses a linker to couple cytotoxic active substances to antibodies, which then transport the active substance directly to tumor cells as a “Trojan horse” and should kill them.
CEO of Samsung Biologics John Rim also commented in a press release from Samsung Biologics: “Araris has the potential to develop best-in-class ADC therapies, and we see room for collaboration in the manufacturing and development of new drugs.” Araris is delighted about the recognition of its technology’s potential according to its CEO and co-founder, Philipp Spycher. He adds that the company will use the proceeds to further support its efforts in advancing the ADC candidates toward the clinic.
Araris announced the successful conclusion of a funding round with a total of 24 million US dollars in October 2022. This means that the funds acquired to date add up to a total of 40 million US dollars. mm
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