AnaCardio raises SEK 150 million to advance drug candidate AC01 in heart failure
STOCKHOLM, SWEDEN - 7 September 2022: AnaCardio announced today the completion of a SEK 150 M Series A financing round, co-led by Flerie Invest AB (Flerie) and Industrifonden. 3B Future Health Fund (3BFHF) joined Flerie and Industrifonden to complete the round together with the founding investor Karolinska Development AB and current investors Fredrik and Ann-Helene Ljungström.
Founded based on ground-breaking research encompassing pre-clinical and clinical discovery of a novel mode of action in the cardiovascular and heart failure setting by Professor Lars Lund, Professor of Cardiology at the Karolinska Institutet and Karolinska University Hospital, AnaCardio licensed the small molecule AC01 from Helsinn Group earlier this year. A proof-of-concept phase 1b/2a clinical trial with AC01 in patients with heart failure and reduced ejection fraction (HFrEF) is now under final preparation and is expected to be initiated at selected sites in Europe during the second half of 2022.
AnaCardio´s CEO Patrik Strömberg commented “We are pleased to welcome a new group of leading investors as AnaCardio shareholders, and to take part in shaping the future of the company. After closing this financing round we will be able to fully commit to investigate our promising novel treatment concept in HFrEF patients”.
“Despite significant advances over the last decades, heart failure patients still suffer from poor quality of life, and high risk of hospitalization and death. With our new investors onboard, and funds to progress the AC01 program in HFrEF, we reach an important milestone in our journey to bring new treatment options to this underserved patient group”, said Lars Lund, Founder and Chairman of AnaCardio.
The raised funds will be used to conduct the planned phase 1b/2a clinical trial and pave the way for future development of AnaCardio´s lead asset AC01. In connection with the Series A investment, Mark Quick, Partner at Flerie Invest, Fredrik Lehmann PhD, Venture Partner at Industrifonden, and Karin Hehenberger, MD, PhD, Scientific advisor to 3BFHF and Founder and CEO of Lyfebulb, will join AnaCardio´s Board of Directors.
Commenting on behalf of the investors, Thomas Eldered, Chairman of Flerie Invest said “We are proud to be supporting AnaCardio and the team in taking Lars’ important research a step further in the development of a potentially life changing drug for a large group of very sick patients”. Furthermore, in another remark Fredrik Lehmann, Venture Partner at Industrifonden said ”We are excited to back the AnaCardio team in developing a treatment with potential to become a breakthrough in heart failure therapy”.
About AnaCardio
AnaCardio AB is a privately held Swedish, clinical stage biopharmaceutical company developing novel drugs to treat heart failure. AnaCardio was founded based on ground-breaking research from Karolinska Institutet showing improved contractility of the heart muscle through a unique and differentiated mechanism. Its lead program AC01 is planned to enter phase 2 clinical development in heart failure patients in 2022.
You can find more information about AnaCardio at www.anacardio.com.
About Flerie Invest AB
Flerie Invest is an active long-term global biotech and pharma investor based in Stockholm and London managing a portfolio of around 30 companies in Europe, Israel and the US. The focus is on enabling pioneering organisations operating in the drug development and services space to succeed by providing them with resources and expertise. The portfolio includes a wide range of areas including immuno-oncology, metabolic diseases and biologics development and manufacturing organisations which have the potential to make a significant impact on health and wellbeing. Flerie Invest was founded in 2010 by Thomas Eldered, who also co-founded and built Recipharm to be one of the world’s top five pharmaceutical contract manufacturers.
For more information, please visit www.flerie.com
About Industrifonden
Industrifonden is a Nordic venture capital investor based in Stockholm. Industrifonden invests in breakthrough technologies and science-based innovation – the Industry of Tomorrow.
For more information, please visit www.industrifonden.com
About 3B Future Health Fund S.A. SICAR, formerly Helsinn Investment Fund S.A., SICAR
3B Future Health Fund is focused on investments in areas of high unmet patient need and aims to help companies with innovative technologies to transform new ideas into commercial solutions with the potential to impact health-related quality of life of patients. The Fund selects companies with technologies in a range of areas including cancer therapeutics and diagnostics, cancer supportive care, metabolic and gastrointestinal disorders, and dermatology conditions.
For more information, please visit www.3bfuture.com
For further information, please contact
Patrik Strömberg, CEO
Telephone: +46 704 156 159
E-mail: Patrik.stromberg@anacardio.com