Arctic has $27.6 million series A

Arctic Therapeutics has raised $27.6 million in a series A funding round. The Icelandic company spun out from the Center for Applied Genomics at the Children’s Hospital of Philadelphia in 2015. It uses mass genome sequencing to identify the causes of complicated diseases and to develop treatments. Arctic will use the funding to continue trials of its two lead candidates, AT-001 and AT-004, designed to treat familial dementia—including Alzheimer’s—and inflammatory skin diseases, respectively. AT-001 has been approved by the European Medicines Agency to enter Phase 2b/Phase 3 trials, and Arctic is preparing to launch a Phase 2a trial for AT-004.