Ariceum Therapeutics, a Berlin, Germany-based biotech company, raised EUR25M in Series A funding.
Ariceum was co-founded by EQT Life Sciences (formerly LSP) and HealthCap who also co-led the financing that was joined by Pureos Bioventures. Ipsen transferred assets, and all corresponding rights into the company in late 2021. In conjunction with the financing, Karin Kleinhans of EQT Life Sciences, Per Samuelsson of HealthCap and Martin Münchbach of Pureos Bioventures will join Ariceum’s board of directors together with Eduardo Bravo, CEO of EBAC, who has been elected as chairman of the board.
The company intends to use the funds to further develop its lead asset and proprietary peptide derivative, satoreotide.
Led by CEO Manfred Rüdiger, Ariceum Therapeutics is a private, clinical stage radiopharmaceutical company focused on the diagnosis and precision treatment of certain neuroendocrine and other aggressive, hard-to-treat cancers.
Satoreotide is a radiopharmaceutical drug and an antagonist of the somatostatin type 2 (SST2) receptor which is overexpressed in many cancers, including certain hard-to-treat cancers such as small cell lung cancer (SCLC), high-grade neuroendocrine tumours (NETs) and neuroblastoma, an aggressive, rare type of cancer that occurs mainly in young children. Satoreotide will be used as a ‘theranostic’ for both the diagnosis and treatment of tumours expressing the SST2 receptor. Satoreotide is in early clinical development and, as of today, has been administered to more than 100 patients including more than 150 therapeutic administrations.
Founded in 2021, the company is headquartered in Berlin, with operations in Germany and activities currently across Europe, North America and Australia.