In 2024, the European Medicines Agency approved a phase IIb/III trial for AT-001, specifically targeting Hereditary Cystatin C Amyloid Angiopathy (HCCAA).

Ivar Hakonarson, co-founder and CEO of ATx, emphasized the significance of this funding in addressing unmet medical needs in dementia treatment.

Svetoslava Georgieva, Chair of the EIC Fund Board, underscored the urgent need for innovative dementia solutions, which currently affect over ten million people in Europe, to alleviate pressure on healthcare systems.

Arctic Therapeutics, an Icelandic drug discovery startup, has successfully raised €26.5 million in Series A financing from a diverse group of international investors.

The investment syndicate includes notable entities such as the EIC Fund, Kaldbakur, Sanos Group, Cerebrum DAO, The Lurie Family Foundation, and various Icelandic institutional investors.

This funding will primarily be directed towards advancing two lead candidates, AT-001 and AT-004, which are aimed at treating rare forms of dementia and inflammatory skin diseases.

AT-001 is an innovative oral treatment designed to prevent harmful amyloid protein aggregation in the brain, with potential applications in familial dementias and Alzheimer’s disease.

In addition to the funding, ATx has been selected to join the EIC Scaling Club, which supports promising European scaleups with significant growth potential.