AnaCardio Raises Approx. USD14.21M in Series A Funding

AnaCardio, a Swedish clinical-stage biopharmaceutical company, completed a Series A funding round of SEK 150m (approx. USD14.21m).

The financing round was led by Flerie Invest with Industrifonden as co-leader. 3B Health Ventures participated together with existing investors Karolinska Development and Fredrik and Ann-Helene Ljungström.

The proceeds from the investment round will finance the planned clinical phase 1b/2a-study of the company’s lead asset AC01 in patients with heart failure and reduced ejection fraction (HFrEF). The study is expected to begin at selected centers in several European countries during the fall/winter of 2022.

AnaCardio AB is a clinical-stage biopharmaceutical company developing novel drugs to treat heart failure, a potentially fatal disease and the most common cause of hospitalization.

The company was founded based on research from Karolinska Institutet showing improved contractability of the heart muscle through a unique and differentiated mechanism.