Financing led by new Investors Fåhraeus Startup and Growth and EIC Fund
HELSINKI, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Aplagon, a clinical stage biopharmaceutical company developing a first-in-class therapeutic for thrombo-inflammatory diseases, known as APAC, a heparin proteoglycan mimetic with antiplatelet and anticoagulant effects, announced today it has closed a EUR 7 million financing. The funding round was led by new investors Fåhraeus Startup and Growth AB (FSG), a Nordic venture capital fund, and European Innovation Council (EIC) Fund. FSG and EIC Fund were joined by leading Finnish investors, including Jenny and Antti Wihuri Foundation, Innovestor and Gösta Serlachius Fine Arts Foundation.
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, 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.”
Johanna Asklin will join Aplagon as a Board member and Alexander Jöndell, Partner at FSG, as an Observer.
About Aplagon Oy
Aplagon is a clinical stage biopharmaceutical company developing a first-in-class therapeutic APAC for treating thrombo-inflammatory diseases. The company's first two lead indications are 1) the prevention of AVF maturation failure, to enable lifesaving haemodialysis treatment in end-stage kidney disease patients, and 2) CLTI, to prevent amputations and other major cardiovascular events in CLTI patients. APAC is based on the pioneering research on mast cell-derived heparin proteoglycans performed by Prof. Riitta Lassila and associates at Wihuri Research Institute in Helsinki, Finland. Aplagon is backed by a syndicate of leading Nordic investors including FSG Fund, Wihuri Foundation, Innovestor and Serlachius Foundation as well as EIC Fund. The company is headquartered in Helsinki, Finland.
For more information see our website and LinkedIn.
About Fåhraeus Startup and Growth
Fåhraeus Startup & Growth (FSG) specializes in venture capital investments within the Life Science and technology sectors, primarily focusing on the Nordics. We are drawn to companies showcasing revolutionary innovations, substantial revenue growth potential, and a demonstrated product-market fit. Established by seasoned life science and tech professionals, FSG Fund II combines deep industry insights with significant investment expertise. We pride ourselves on being hands-on owners, leveraging our expansive industry network to bolster the growth of our portfolio companies. At the helm of FSG Fund II are Managing Director Linus Wiebe, and General Partners Christer Fåhraeus and Johanna Asklin.
As per the regulatory framework, FSG Fund II AB is a registered alternative investment fund under the Swedish Alternative Investment Funds Managers Act.
Discover more about us on our official website: www.fsgfond.com.
About the European Innovation Council Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The European Investment Bank acts as investment adviser to the EIC Fund.
The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
Media Contacts
Aplagon
Aki Prihti, CEO
Scius Communications
Katja Stout +44 7789435990
Daniel Gooch +44 7747875479