logo ct-atlantic








CT Atlantic AG announces Series A financing round by QureInvest AG Zürich, Switzerland, January 12, 2009.

Zürich, Switzerland, January 12, 2009. CT Atlantic AG, a newly established biotechnology company focused on cancer treatment by human-derived antibodies, today announced the completion of a Series A financing round totaling CHF10 million raised from QureInvest AG. CT Atlantic is based on pioneering translational research in the field of cancer immunotherapy. The company's R&D activities are run by Prof. Dr Alexander Knuth, Head of the Department of Oncology at the University Hospital, Zurich, Switzerland, who is also affiliated with the international Ludwig Institute for Cancer Research, (LICR New York, USA). Over the past twenty years, Dr Knuth and colleagues have led clinically-driven research and development programs aimed at establishing novel immune-based approaches such as active and passive immunization strategies for the treatment of cancer.

As a spin off from the University of Zurich and the LICR, CT Atlantic is uniquely positioned to benefit from centers of scientific and clinical excellence located on both sides of the Atlantic. Both institutions have contributed substantial intellectual property and know-how to CT Atlantic, mainly focusing on novel approaches to treat certain types of cancer using antibodies derived from cohorts of patients who pursue a remarkably stable disease course.

CT Atlantic is the first investment made by QureInvest, a specialist biotech investment company based in Zurich, Switzerland. The proceeds of this financing event will be used to advance CT Atlantic's research and technology programs in order to eventually enter into a strategic alliance with a major pharmaceutical company active in the field of immunotherapy.

“We are very proud to have completed this substantial Series A financing round of CHF10M with QureInvest as an exclusive and highly experienced investor”, stated Prof. Dr Alexander Knuth, Chairman and President of CT Atlantic. “Our scientific approach matches QureInvest's investment philosophy centered on striking an early-stage alliance with a high profile industry partner. Cancer remains an enormous challenge for society. Our focus on human-derived antibodies is of value for various, both passive and active immunotherapeutic approaches that can be applied individually or in combination. Additionally, such antibodies should have an inbuilt safety profile by nature. Upon showing efficacy in our model systems, they are prime candidates for industrial development as drug candidates”, continued Prof. Knuth.

Dr. Edward Stuart, Founding CEO of CT Atlantic, commented: “The industry currently faces a number of pressing issues, including the need for innovative and safe drug candidates to fill pipelines and replace products coming off patent. At the same time, many biotech companies are unable to access sufficient financial resources to support the preclinical and clinical development of their products. Our scientific and business approach provides one potential solution to such issues and we are delighted with the support from QureInvest. CT Atlantic has established a strong platform using clinical observations and resources as the basis for the research and development of new cancer drugs. Together with our partners, among them the University of Zurich and the Ludwig Institute, we are ideally positioned to bring CT Atlantic’s outstanding science forward.”