Arctic Therapeutics secures $21.5 million in oversubscribed funding round
Arctic Therapeutics has closed a $21.5 million financing round to support the clinical advancement of its drug pipeline, including candidates for dementia and inflammatory skin diseases.
Arctic Therapeutics raised $21.5 million in a financing round led by Pekron, Sanos Group, Kaldbakur, and Landvættir. The investment saw higher demand than initially anticipated, prompting the company to increase the total capital secured.
The company intends to allocate these funds toward the clinical development of its AT-002 and AT-003 candidates. This expansion follows progress on its existing lead programs, including AT-001, which targets rare and common forms of dementia, and AT-004, which focuses on inflammatory skin conditions.
The influx of capital marks a significant step for Arctic Therapeutics as it moves to broaden its drug pipeline and advance its current clinical-stage assets. The company continues to build upon clinical milestones achieved in previous testing phases.