Akthelia Pharma Announces Close of a Pre-Seed Equity Round
Total of $300,000 in new equity
REYKJAVIK, Iceland -- June, 15, 2019 -- Akthelia Pharmaceuticals announced today that it has closed an angel-led pre-seed funding round.
12 new shareholders, many of whom are angel investors with pharma industry background, bought shares for a total of ISK 31.5 million. In addition, Nýsköpunarsjóður atvinnulífsins extended and converted a bond of ISK10.8 million to equity, bringing the total round to just over ISK 42 million (US$300,000).
We would like to thank the new shareholders for their trust and for joining us on our journey. Many of the new shareholders have a background in pharmaceutics and bring a valuable network along. The plan for the investment is to fund immediate value increasing activities for Akthelia, including preliminary tox and PK for AKT-013 and achieving proof of concept in an established animal model. However, in June 2019 RANNÍS selected Akthelia for a grant from their Vöxtur program. The total grant is ISK 46 million over two years.
ABOUT AKTHELIA PHARMACEUTICALS
Akthelia Pharmaceuticals is a preclinical-stage biopharma company with a next-generation immunotherapeutic strategy to upregulate the innate immunology of epithelial surfaces. This novel approach has application potential to many areas of medicine and addresses the growing threat of antibiotic bacterial resistance (AMR) worldwide.
Akthelia’s lead therapeutic program upregulates the innate immunology in the GI tract, blocking leakage of microbiota to improve outcomes in cancer care through reducing the risk of neutropenia, a common and severe complication in chemotherapy and immunocompromised patients.
Egill Masson CEO firstname.lastname@example.org
Akthelia Pharmaceuticals Grandagarði 16 101 Reykjavik Iceland