Schroder UK Public Private Trust PLC - London-based investment trust - Makes GBP2.7 million investment in antibody-drug conjugates development company, Araris Biotech AG, as part of its GBP21.4 million financing round.
Araris is developing an antibody-drug conjugate-linker technology to allow for the efficient and precise production of ADCs.
Portfolio Managers Tim Creed and Roger Doig say: "Araris is the tenth new investment and the second therapeutics-focused private equity investment since our appointment as Portfolio Manager. This investment is in line with the company's private equity sub-strategy for backing innovative life sciences businesses, at the clinical or near-clinical stage, with high-quality science, a strong financing position, alongside high-quality co-investors."
Current stock price: 15.86 pence, down 2.3% on Friday
12-month change: down 53%
By Holly Beveridge; hollybeveridge@alliancenews.com
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