Arctic Therapeutics funding news – Arctic Therapeutics Secures €26.5Million in Series A Round Funding

This group includes the EIC Fund, Kaldbakur (Iceland’s largest private investment firm), Investcorp-backed Sanos Group, Swiss-based Cerebrum DAO, and The Lurie Family Foundation (founded by US billionaire Jeffrey Lurie). Other participants include early investors in Kerecis, a successful Icelandic company, and the Copenhagen-listed company Chemometec, as well as Icelandic investors and family offices.

The funds will be used to advance Arctic Therapeutics' two main treatments, AT-001 and AT-004. Last year, the European Medicines Agency (EMA) approved a clinical trial for AT-001 to treat Hereditary Cystatin C Amyloid Angiopathy (HCCAA), a rare form of dementia.

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The funding will help Arctic Therapeutics explore how AT-001, a pill designed to stop harmful amyloid proteins from building up in the brain, could help treat other forms of familial dementia and even Alzheimer's disease.

Ivar Hakonarson, ATx co-founder and CEO said, “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, 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,”.

Last year, Arctic Therapeutics joined the EIC Scaling Club, a group of Europe's most promising startups. The club helps these companies grow and aims to turn 20% of them into unicorns.

Svetoslava Georgieva, Chair of the EIC Fund Board. “Investing in innovative solutions to address the global healthcare challenge of dementia is both a responsibility and an opportunity, 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."

About Arctic Therapeutics

Arctic Therapeutics uses bioinformatics and AI to reduce risks and costs in drug development, making it faster and more affordable to bring effective treatments to patients.