Aplagon, a Helsinki-based clinical-stage biopharmaceutical company focused on thrombo-inflammatory diseases, has closed a €7 million funding round led by Fåhraeus Startup and Growth (FSG) and the European Innovation Council (EIC) Fund. The round also included contributions from Finnish investors such as the Jenny and Antti Wihuri Foundation, Innovestor, and the Gösta Serlachius Fine Arts Foundation. Aplagon is developing APAC, a therapeutic designed to target arterial injury sites with long-lasting antithrombotic and anti-inflammatory effects. The funding will support the continuation of ongoing clinical trials, including studies for Arteriovenous Fistula maturation failure and peripheral arterial occlusive disease, as well as the initiation of Phase 2A trials for chronic limb-threatening ischemia.
By mimicking naturally occurring mast cell-derived heparin proteoglycans, APAC targets arterial injury sites providing long-lasting antithrombotic and anti-inflammatory action in situ. The funding will support the initiation of Phase 2a clinical trial of APAC for peripheral arterial occlusive disease/chronic limb threatening ischemia (PAOD/CLTI) in Finland. APAC is also poised to complete three ongoing clinical trials; a Phase I clinical trial for Arteriovenous Fistula (AVF) maturation failure, a Phase I intravenous (IV) clinical trial in healthy participants, and a PET-imaging clinical trial with 89zirconium-labeled APAC in PAOD patients and healthy participants in 2025. See our recent clinical trial updates release here.
APAC is intended for in-hospital use and can be administered either locally or by IV infusion. Over 40 participants have so far received APAC without any safety concerns and initial clinical findings are encouraging.
Aki Prihti, CEO at Aplagon, said, ‘We’re delighted to secure this fund-raising, and to bring on board FSG and EIC Fund as highly experienced VC investors from outside Finland. We have been making strong progress, and this financing enables us to complete the three international clinical trials we have been running with APAC, and to start a Phase 2a study in PAOD/CLTI. Our innovative approach, using a heparin proteoglycan mimetic with targeting ability and retention on the vascular injury sites, has potential applications across a broad range of serious vascular diseases. We are looking forward to announcing clinical results from these trials in 2025 and 2026.”
Johanna Asklin will join Aplagon as a Board member and Alexander Jöndell, Partner at FSG, as an Observer.
Johanna Asklin, General Partner at FSG, said, “Thrombo-inflammation is a key underlying driver for many cardiovascular diseases. At FSG we look for revolutionary innovations, and we found precisely that with Aplagon’s APAC approach to treat this clear unmet medical need.”
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Read the orginal article: https://arcticstartup.com/aplagon-raises-e7-million/
