
(AGENPARL) – mer 22 gennaio 2025 · Funding will accelerate the company’s anti-amyloid treatment for rare and
common forms of dementia
· As well as bringing forward a new class of treatment for inflammatory skin
diseases
· Sanos Group CEO Jeppe Ragnar Andersen joins the board
REYKJAVIK, ICELAND and PHILADELPHIA, PA – January 22, 2025 – Icelandic drug
discovery and development company Arctic Therapeutics (ATx) today announced the
successful closing of a €26.5 million oversubscribed Series A financing from a
broad syndicate of international investors.
The syndicate includes the EIC Fund, Iceland’s largest privately-held investment
firm Kaldbakur, Investcorp-backed Sanos Group, Swiss-based Cerebrum DAO, The
Lurie Family Foundation – established by US billionaire Jeffery Lurie – as well
as a consortium led by early investors and co-founders of Icelandic unicorn,
Kerecis, and Copenhagen-listed Chemometec. Icelandic institutional investors and
family offices also participated in the round.
“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.
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.
“Recent advances in understanding the role of amyloid proteins and the critical
importance of preventing and dissolving plaque formation in the brain underscore
the transformative potential of our approach to significantly slow or even
prevent these devastating diseases,” 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.
“Sanos Group’s proven expertise in dermatology and recent acquisition of
NeuroScios, a CRO specialized in clinical studies in Alzheimer’s, strengthens
our alignment with ATx’s therapeutic focus even further,” Andersen said. “We
look forward to supporting the ATx team on achieving its goal of bringing
forward innovative treatments for dementia and skin diseases to millions of
patients,” 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.
“Investing in innovative solutions to address the global healthcare challenge of
dementia is both a responsibility and an opportunity,” said Svetoslava
Georgieva, Chair of the EIC Fund Board. “In Europe alone, dementia affects over
ten million people – placing immense strain on families, healthcare systems, and
economies. By providing an equity investment in Arctic Therapeutics, the EIC
Fund is supporting groundbreaking preventive treatments that have the potential
to change the trajectory of this crisis, improve quality of life, and alleviate
the burden on healthcare infrastructure worldwide,” Georgieva added.
About Arctic Therapeutics
Arctic Therapeutics is an Icelandic drug discovery and development company
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 led by ATx
founder Hakon Hakonarson, MD, PhD. ATx leverages the transformative power of
applied genomics, steering the course of drug development towards safer, more
effective treatments for some of the world’s most challenging diseases. The
company has operations in Iceland, the US and multiple collaborations across
Europe. For more information, please visit: http://www.arctictherapeutics.com and
-posts/published/).
About Sanos Group
Sanos Group (https://sanos.com/) is a leading specialist provider of clinical
study services in the global pharma and biotech industry. The group consists of
around 200 employees, mainly in Denmark and the United States, but also in
Europe and Hong Kong. Last year, Sanos acquired
AustrianNeuroScios (https://neuroscios.com/), which is a contract research
organization (CRO) focusing on Alzheimer’s and other diseases of the central
nervous system. The acquisition is part of the group’s strategic development as
a multi-niche CRO, adding a third specialist area to the two current scientific
areas of osteoarthritis and dermatology.
About EIC Fund
The European Innovation Council Fund from the European Commission is an agnostic
fund: it invests across all technologies and verticals, and all EU countries and
countries associated to Horizon Europe. It provides the investment component of
the EIC Accelerator blended finance. The European Investment Bank acts as
investment adviser to the EIC Fund. The EIC Fund aims to fill a critical
financing gap and its main purpose is to support companies in the development
and commercialization of disruptive technologies, bridging with and crowding in
market players, and further sharing risk by building a large network of capital
providers and strategic partners suitable for co-investments and follow-on
funding.
The fund pays particular attention to the empowerment and support of female
founders as well as the ambition to reduce the innovation divide among EU
countries.
For media inquires
Gulli Arnason, Chief Strategy Officer
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Arctic Therapeutics, Gróska Innovation Center, Bjargargata 1,, Reykjavik,, 102 Iceland
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Arctic Therapeutics, Gróska Innovation Center, Bjargargata 1,, Reykjavik,, 102 Iceland
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