- Aplagon has raised €7 million in a financing round led by Fåhraeus Startup and Growth AB (FSG) and the European Innovation Council (EIC) Fund.
- The funding will support the Phase 2a trial of APAC for peripheral arterial disease and the completion of three ongoing clinical trials.
Aplagon, a clinical-stage biopharmaceutical company developing APAC, a heparin proteoglycan mimetic for thrombo-inflammatory diseases, has secured €7 million in new financing. The round was led by Nordic venture capital firm Fåhraeus Startup and Growth AB (FSG) and the European Innovation Council (EIC) Fund, with additional participation from Finnish investors Jenny and Antti Wihuri Foundation, Innovestor, and Gösta Serlachius Fine Arts Foundation.
The investment will enable Aplagon to launch a Phase 2a trial of APAC for peripheral arterial occlusive disease (PAOD) and chronic limb-threatening ischaemia (CLTI) in Finland. It will also support the completion of three ongoing clinical studies: a Phase I trial for arteriovenous fistula (AVF) maturation failure, a Phase I intravenous (IV) trial in healthy participants, and a PET-imaging study using zirconium-89-labelled APAC in PAOD patients and healthy individuals.
Aki Prihti, CEO of Aplagon, welcomed the investment, stating: “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…has potential applications across a broad range of serious vascular diseases.”
APAC is designed for in-hospital use and can be administered locally or via IV infusion. Over 40 participants have already received the therapy, with no safety concerns reported. Johanna Asklin, General Partner at FSG, will join Aplagon’s Board, with Alexander Jöndell, Partner at FSG, taking an Observer role.