Arsanis closes Series A financing for $10 million

Published on February 28, 2011 at 7:04 AM · No Comments

Arsanis, Inc, a recently founded biotechnology company dedicated to the development of anti-infective monoclonal antibody therapeutics, today announced the closing of a Series A financing with a total funding amount of $10 million. Proceeds from the initial financing will be used to advance several programs in the anti-microbial infectious disease area.

The financing involved equal contributions from OrbiMed Advisors, Polaris Venture Partners and SV Life Sciences. Managing Partners, Carl Gordon, Terry McGuire and Mike Ross joined the founders on Arsanis' Board of Directors.

Arsanis was founded in the fall of 2010 by Dr. Eszter Nagy (former SVP of Research at Intercell, AG), Dr. Tillman Gerngross (Co-founder and CEO of Adimab, and Co-founder and CSO of GlycoFi, Inc., a wholly owned subsidiary of Merck & Co. since 2006) and Errik Anderson (Co-founder and COO of Adimab) who bring together expertise in monoclonal antibody discovery, infectious disease biology and commercializing innovation. The company will initiate its operations in Vienna, Austria.

"Managing infectious diseases is the only field of modern medicine where current approaches are failing. The growing concern over broad resistance to conventional antibiotics demands new treatment modalities and we believe that monoclonal antibodies will play a major role in the anti-infective arena in the next couple of years," explained Arsanis Co-founder and Chief Scientific Officer, Dr. Eszter Nagy. "The current funding will support several pre-clinical proof-of-concept programs that will be the basis for the company's future development decisions."

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