Aplagon, a Finland-based clinical-stage biopharmaceutical company, raised €7 million in equity funding.
The funding round was co-led by new investors Fahraeus Startup and Growth AB (FSG), and European Innovation Council (EIC) Fund, with participation from Finnish investors, including Jenny and Antti Wihuri Foundation, Innovestor and Gösta Serlachius Fine Arts Foundation.
Aplagon plans to use the new funds to support the initiation of Phase 2a clinical trial of APAC for peripheral arterial occlusive disease/chronic limb threatening ischemia (PAOD/CLTI) in Finland.
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,” added Aki Prihti.