Arix Bioscience PLC has added a developer of novel antibody-drug conjugates to its oncology portfolio by co-leading a $50m Series A investment round for privately-held VelosBio Inc and taking an 11.2% stake in the US-based next-generation oncology group.
Joe Anderson, Arix's chief investment officer, noted in an interview that the addition of ADC discovery and development in the fund's portfolio adds a valuable dimension to the existing list of oncology therapy-focused companies there which already comprise the CAR-T field, tri-specific T-cell engagers, viral nanoparticles activated
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