Arctic Therapeutics is an Icelandic clinical-stage biopharmaceutical company developing treatments for diseases with high unmet medical need, including rare forms of dementia, inflammatory skin diseases and autoimmune conditions.
Founded in 2015 as a spin-off from the US-based Center for Applied Genomics, Arctic Therapeutics applies genetic sequencing and applied genomics to identify disease mechanisms and translate them into potential therapies.
As a member of the EIC Scaling Club’s New Biotech Platforms group, Arctic Therapeutics is part of a wider European deep tech community working to scale breakthrough technologies with global relevance. In January 2025, the company announced the closing of a €26.5 million Series A financing round to advance its lead programmes, including AT-001 and AT-004.
From genetic discovery to drug development
Arctic Therapeutics’ approach is rooted in applied genomics: using genetic sequencing to analyse the causes of disease at a granular level and identify therapeutic opportunities. The discovery approach draws on Icelandic genealogical data to better understand disease mechanisms and identify therapeutic opportunities.
This discovery-led model reflects the company’s origins. Founder and Chief Medical Advisor Hakon Hakonarson established Arctic Therapeutics to bring discoveries from the Center for Applied Genomics closer to patients. The centre, launched in 2006, has been described as one of the world’s largest paediatric biobanks and genomic databases.
The scientific foundation has helped shape a diversified pipeline. Arctic Therapeutics is advancing five programmes across neurology, inflammatory skin diseases and autoimmune conditions, with a focus on diseases where patient need remains significant and where genetic discovery may point towards new therapeutic pathways.
Targeting rare and common forms of dementia
The company’s lead investigational therapy, AT-001, is being developed for rare and common forms of dementia.
In November 2025, Arctic Therapeutics announced that the European Medicines Agency had authorised the initiation of a Phase IIa study evaluating AT-001 in patients diagnosed with Alzheimer’s disease. The same announcement stated that the European Medicines Agency had granted Orphan Drug Designation to AT-001 for hereditary cystatin C amyloid angiopathy, a rare familial dementia.
The Alzheimer’s study is designed to evaluate AT-001 in patients with mild cognitive impairment or mild Alzheimer’s disease. Through this programme, Arctic Therapeutics is pursuing a therapeutic route that addresses both rare and common forms of dementia. The company’s stated ambition is not only to delay disease progression, but ultimately to prevent these diseases altogether.
Expanding the pipeline beyond neurology
While dementia is a central focus, Arctic Therapeutics’ pipeline also extends into inflammatory skin disease and autoimmune conditions.
The company announced in February 2026 that the first patients had been enrolled in a Phase IIa randomised, double-blind, placebo-controlled clinical trial evaluating topical AT-004 in adults with acne vulgaris. The study is designed to enrol 60 participants aged 18 to 45, with a 12-week treatment period.
AT-004 is being developed initially for acne vulgaris, with the company aiming to demonstrate safety and efficacy before exploring other inflammatory skin diseases, including atopic dermatitis, rosacea and psoriasis.
Arctic Therapeutics’ pipeline also includes AT-005, an siRNA-based programme targeting CDHR3. The candidate is being developed in relation to asthma and rhinovirus infection, with the aim of addressing rhinovirus C, a common trigger of severe asthma exacerbations.
A leadership team built around science and company growth
Arctic Therapeutics’ leadership combines deep scientific expertise with clinical, commercial and operational know-how. Founder and Chief Medical Advisor Hakon Hakonarson is a professor of paediatrics in the Division of Human Genetics at the Children’s Hospital of Philadelphia and previously held leadership roles at deCODE genetics, including Head of Pharmacogenomics and Chief Scientific Officer.
Co-founder and Chief Executive Officer Ivar Hakonarson joined Arctic Therapeutics full-time in 2021, helping to build its clinical laboratory operations in Iceland and support the company’s growth, following earlier roles in technology, product development and sales.
Co-founder and Chief Scientific Advisor Charlly Kao brings expertise in immunology and project management, having worked closely with Hakon Hakonarson at the Center for Applied Genomics and contributed to proof-of-concept studies supporting Arctic Therapeutics’ drug portfolio.
Scaling with international backing and global relevance
Arctic Therapeutics’ €26.5 million Series A financing, with participation from the EIC Fund, supports the company’s next stage of development. This includes advancing its lead programmes through clinical evaluation and continuing to build a pipeline around genetic insight, disease biology and unmet patient need.
In a sector where development timelines are long and evidence standards are high, Arctic Therapeutics’ progress will depend on the results of its clinical studies and the strength of its partnerships. The company’s direction is clear: using applied genomics as a route from disease understanding to potential new medicines.
About the EIC Scaling Club
The EIC Scaling Club is a curated community where 120+ European deep tech scale-ups with the potential to build world-class businesses and solve major global challenges come together with investors, corporate innovators and other industry stakeholders to spur growth.
The top 120+ European deep tech companies will be carefully selected from a pool of high-growth scale-ups that have benefitted from EIC financial schemes, other European and national innovation programmes, and beyond.
The EIC Scaling Club is an EIC-funded initiative run in partnership by Tech Tour, Bpifrance (EuroQuity), Hello Tomorrow, Tech.eu (Webrazzi), EurA and IESE Business School.
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