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Ariceum Therapeutics Launches With Eur 25M Series A To Advance Lead Asset, Satoreotide, For The Treatment Of Low- And High-Grade Neuroendocrine Cancers

Jun 08, 2022•about 3 years ago

Round Type

series a

Berlin

Description

Ariceum Therapeutics (Ariceum), a private biotech company developing a radiopharmaceutical product for the diagnosis and systemic targeted radiation therapy of certain hard-to-treat cancers, today announces the successful completion of an oversubscribed EUR 25 million Series A financing round. 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.

Company Information

Company

Ariceum Therapeutics

Location

Berlin, Maryland, United States

About

Ariceum Therapeutics (Ariceum) is a private, clinical stage radiopharmaceutical company focused on the diagnosis and precision treatment of certain neuroendocrine and other aggressive, hard-to-treat cancers. The name Ariceum is an anagram of 'Marie Curie' whose discovery of radium and polonium have been huge contributions to finding treatments for cancer. Ariceum's 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), some aggressive cancers such as small cell lung cancer (SCLC) and the childhood cancer, neuroblastoma, all of which have few treatment options and poor prognoses. Satoreotide is being developed as a 'theranostic' pair for the combined diagnosis and targeted radionuclide treatment of these tumours. Ariceum Therapeutics, launched in 2021, acquired all rights from Ipsen. Ariceum is headquartered in Berlin, with operations in Germany and activities currently across Europe, North America and Australia. Ariceum is led by a highly experienced management team and supported by specialist investors including EQT Life Sciences (formerly LSP), HealthCap and Pureos Bioventures. For further information, please visit www.ariceum-therapeutics.com