HomeIcelandArctic Therapeutics Raises €26.5M in Series A Financing 

Arctic Therapeutics Raises €26.5M in Series A Financing 

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artic therapeutics

Arctic Therapeutics, a Reykjavik, Iceland-based drug discovery and development company, raised €26.5M in Series A funding.

Backers included EIC Fund, Kaldbakur, Sanos Group, Cerebrum DAO, The Lurie Family Foundation, as well as a consortium led by early investors and co-founders of Icelandic unicorn such as Kerecis and Chemometec. Icelandic institutional investors and family offices also participated.

The company intends to use the funds 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. It will also aim to launch a phase IIa clinical trial for AT-004 in Europe post-financing.

Established in 2015 as a spin-off from the US-based Center for Applied Genomics (CAG), a research center at the Children’s Hospital of Philadelphia and led by CEO Ivar Hakonarson, Arctic Therapeutics is a drug discovery and development company that uses bioinformatic approaches and AI to eliminate risks associated with traditional drug development, as well as sharply reducing the enormous cost and time to bring effective treatments to millions of patients.

FinSMEs

22/01/2025

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