Arctic Therapeutics, our New Biotech Platforms group member from Iceland, has today announced the successful closing of a €26.5 million oversubscribed Series A investment round.
The company’s co-founder and CEO Ivar Hakonarson said that this funding will help Arctic Therapeutics continue to “address significant unmet medical needs, from familial forms of dementia and Alzheimer’s to novel treatments for inflammatory skin diseases.”
The funding has been raised by a syndicate of international investors, including the EIC Fund, Iceland’s largest privately-held investment firm Kaldbakur, Investcorp-backed Sanos Group, Swiss-based Cerebrum DAO, The Lurie Family Foundation, as well as a consortium led by early investors and co-founders of Icelandic unicorn, Kerecis, and Copenhagen-listed Chemometec.
The proceeds from the Series A financing will be used to advance ATx’s two pioneering treatments, AT-001 and AT-004, closer to the patients:
Read more about this news in the Arctic Therapeutics official announcement.
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