Arctic Therapeutics Announces €26.5M Oversubscribed Series A Financing

"This funding represents a critical milestone in our journey to address significant unmet medical needs, from familial forms of dementia and Alzheimer's to novel treatments for inflammatory skin diseases. The new investors bring expertise and strategic value to the table, enabling us to accelerate the development of groundbreaking treatments," said Ivar Hakonarson, ATx co-founder and CEO.  "This funding represents a critical milestone in our journey to address significant unmet medical needs,...

REYKJAVIK, Iceland, 22/01/2025 (informazione.news - comunicati stampa - salute e benessere)

" said Ivar Hakonarson , ATx co-founder and CEO. 

The proceeds from the Series A financing will be used to advance ATx's two frontrunners, AT-001 and AT-004, further into the clinic.

Last year, the European Medicines Agency (EMA) approved a pivotal phase IIb/III clinical trial evaluating AT-001 for the treatment of Hereditary Cystatin C Amyloid Angiopathy (HCCAA), a rare form of familial dementia. The new funding will allow ATx to explore the potential of AT-001, an oral treatment designed to prevent the aggregation of harmful amyloid proteins in the brain, in other forms of familial dementia, and eventually Alzheimer's disease.

Hakonarson added.

In addition to the AT-001 clinical trial, ATx is also planning to launch a phase IIa clinical trial for AT-004 in Europe post-financing. The therapeutic goal of this approach is to demonstrate safety and efficacy in acne vulgaris before expanding into other inflammatory skin diseases, including atopic dermatitis, rosacea and psoriasis.

Additionally, ATx announced the appointment of Jeppe Ragnar Andersen , CEO of Sanos Group, to its board of directors.

Andersen said he added.

Last year, ATx was selected to join the prestigious EIC Scaling Club, an exclusive community of Europe's most promising scaleups. The Club aims to accelerate the growth of its members, with a goal of scaling 20% of them into unicorns. This aligns with the EIC Fund's investment mandate to provide funding to European companies, which have the potential to meet the world's most pressing challenges.

 said Svetoslava Georgieva , Chair of the EIC Fund Board.  Georgieva added.

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