Finnish biotechnology company Aplagon has secured €7 million in financing to advance the development of its innovative APAC therapeutic platform, marking a significant milestone in the treatment of thrombo-inflammatory diseases. The funding round was led by Nordic venture capital fund Fåhraeus Startup and Growth AB (FSG) and the European Innovation Council (EIC) Fund, with participation from prominent Finnish investors.
Novel Mechanism of Action and Clinical Progress
APAC represents a groundbreaking approach to treating thrombo-inflammatory conditions through its unique mechanism as a heparin proteoglycan mimetic. The therapeutic agent specifically targets arterial injury sites, providing sustained antithrombotic and anti-inflammatory effects where they are most needed. To date, the treatment has demonstrated an encouraging safety profile, with over 40 participants receiving APAC without significant safety concerns.
The drug can be administered either locally or through intravenous infusion in hospital settings, offering flexible treatment options for various vascular conditions. This versatility positions APAC as a potentially valuable therapeutic tool across multiple indications.
Expanding Clinical Development Program
The new funding will support multiple clinical initiatives, including:
- Initiation of a Phase 2a trial for peripheral arterial occlusive disease/chronic limb threatening ischemia (PAOD/CLTI) in Finland
- Completion of a Phase I trial for Arteriovenous Fistula maturation failure
- Ongoing Phase I intravenous trial in healthy participants
- PET-imaging clinical trial using 89zirconium-labeled APAC in PAOD patients and healthy participants
"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," said Aki Prihti, CEO at Aplagon. "Our innovative approach 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."
Strategic Investment and Market Potential
The investment reflects growing confidence in Aplagon's approach to addressing significant unmet medical needs in vascular disease. Johanna Asklin, General Partner at FSG, emphasized the importance of targeting thrombo-inflammation: "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."
The company's lead programs focus on two critical areas: preventing AVF maturation failure in end-stage kidney disease patients requiring hemodialysis, and treating chronic limb threatening ischemia to prevent amputations and major cardiovascular events. These indications represent significant market opportunities with substantial unmet medical needs.
Scientific Foundation and Corporate Leadership
APAC's development builds on pioneering research conducted by Professor Riitta Lassila and colleagues at the Wihuri Research Institute in Helsinki, Finland. The technology's scientific foundation, combined with its broad potential applications, has attracted a strong syndicate of investors and experienced leadership. As part of the financing, Johanna Asklin will join Aplagon's Board of Directors, with Alexander Jöndell joining as an Observer, bringing additional industry expertise to guide the company's growth.
