An Icelandic scaleup has sparked hopes of a breakthrough in dementia treatment after raising 26.5mn for groundbreaking research.
Arctic Therapeutics (ATx) attracted the investment after pioneering a new approach todrug development.
Founded in 2015, the company first analyses genomic data with bioinformatics a blend of computer science and biology.
After identifying disease-associated genes and proteins, ATx targets the root causes of a given condition.
According to the scaleup, the process cuts the risks, costs, and time involved in developing treatments.
It’s free, every week, in your inbox.
The new financing could push the benefits closer towards patients.
ATx said the Series A funds will advance two frontrunner drugs: AT-001 and AT-004.
AT-001 has proven particularly promising.
The treatment focuses on dementia brought on by harmful accumulations of protein.
Taken orally, AT-001 disrupts and dissolves these harmful protein clusters.
Consequently, the treatment could reduce the risks of dementia.
ATx is confident of stalling the conditions progression.
The company also believes the drug could delay dementias onset and even reverse its course.
Ivar Hakonarson, the CEO and co-founder of ATx, said the treatment has transformative potential.
Changing the trajectory of dementia
Tests on AT-001 are progressing rapidly.
ATx also plans to launch a clinical trial for AT-004.
ATx expects the new funds to accelerate the research.
A syndicate of internationalinvestorsparticipated in the round.
Among them is the European Commissions EIC Fund, which supports companies developing disruptivetech.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
