FSG and EIC Fund were joined by leading Finnish investors, including Jenny and Antti Wihuri Foundation, Innovestor and Gösta Serlachius Fine Arts Foundation.

“We’re delighted to secure this fundraising, 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,” says Aki Prihti, CEO at Aplagon.

APAC

The company develops a first-in-class therapeutic for thrombo-inflammatory diseases, known as APAC, a heparin proteoglycan mimetic with antiplatelet and anticoagulant effects. 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, states the company. 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.

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.

Johanna Asklin, General Partner at FSG, will join Aplagon as a Board member and Alexander Jöndell, Partner at FSG, as an Observer.