News

Arctica Finance advisor to Arctic Therapeutics in Series A financing

22. January 2025

Icelandic drug discovery and development company Arctic Therapeutics (ATx) has successfully closed a €26.5 million Series A financing from a broad syndicate of international investors.

The syndicate includes the EIC Fund, Iceland's largest privately-held investment firm Kaldbakur, Investcorp-backed Sanos Group, Swiss-based Cerebrum DAO, The Lurie Family Foundation – established by US billionaire Jeffery Lurie – as well as a consortium led by early investors and co-founders of Icelandic unicorn, Kerecis, and Copenhagen-listed Chemometec. Icelandic institutional investors and family offices also participated in the round. Sanos Group CEO Jeppe Ragnar Andersen joins the board.

Funding will accelerate the company's anti-amyloid treatment for rare and common forms of dementia as well as bringing forward a new class of treatment for inflammatory skin diseases.

ATx was founded by Dr. Hákon Hákonarson, MD and expert in lung and gene research at the Center of Applied Genomics (CAG) in the USA, and his son Ívar Hákonarson. The company has three other drugs in development, including a drug for Parkinson's disease.

Arctica Finance and BBA//Fjeldco advised Arctic Therapeutics in the transaction.