On August 20, 2019 Araris Biotech AG reported the closing of an oversubscribed seed financing round of CHF 2.5 million with participation of Swiss investors Redalpine, Schroder Adveq and VI Partners (Press release, Araris Biotech, AUG 20, 2019, View Source [SID1234651277]). The proceeds will be used to develop a pipeline of proprietary antibody-drug conjugates (ADCs).

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Araris’ co-founder and Chief Executive Officer, Dr. Philipp Spycher, commented: "We are very pleased to announce that three renowned Swiss investors with a very strong track record have invested in Araris." Dr. Dragan Grabulovski, co-founder and chairman of the board, added: "Obtaining a seed financing from VCs just six months after 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."