Arctic Therapeutics Secures €26.5M in Series A Funding to Fast-Track Dementia and Skin Disease Treatments

Arctic Therapeutics, an Icelandic drug discovery firm, raised €26.5 million in an oversubscribed Series A financing round to further its innovations in dementia and skin disease treatments. The round was supported by an array of international investors including the EIC Fund, Iceland’s investment firm Kaldbakur, Sanos Group backed by Investcorp, Cerebrum DAO from Switzerland, and the Lurie Family Foundation. The funds will accelerate clinical trials for ATx's leading drug candidates, AT-001 for familial dementia and Alzheimer’s treatment, and AT-004 for inflammatory skin conditions. Additionally, Sanos Group's CEO, Jeppe Ragnar Andersen, joins ATx’s board, leveraging Sanos’ neurological and dermatology expertise. AT-001, an oral medication targeting amyloid proteins, is set to progress through approved EMA trials, while new trials for AT-004 aim to establish efficacy for skin conditions. This funding aligns with EIC Fund's goals to support companies delivering groundbreaking solutions to pressing global issues like dementia. Arctic Therapeutics continues leveraging its genomically-driven approach to develop transformative therapies.