€45m series B funding raised by Acesion Pharma

Acesion Pharma has announced that it has closed an oversubscribed €45m series B financing round. This financing was co-led by new US investors Canaan and Alpha Wave, as well as including participation from the Global BioAccess Fund and existing investor Novo Holdings.
This financing is intended to advance development of AP31969, an SK ion channel inhibitor for the oral treatment of atrial fibrillation (AF). It is intended that AP31969 will be developed for chronic oral maintenance treatment to prevent AF recurrence, and will be progressed into phase 1 and 2 trials.
Anders Gaarsdal Holst MD PhD, chief executive officer of Acesion, commented: "The high levels of investor interest and demand that we saw during this financing speak to the strong data we have generated, both on the novel mechanism of SK channel inhibition in general and the AP31969 compound specifically. This is a powerful endorsement for our team and the quality of our science. With the financing in hand, we are focused on progressing AP31969 into a phase 1 clinical trial later this year.”
Tim Shannon MD, general partner at Canaan, added: "Acesion is redefining treatment for patients suffering from AF. The impressive preclinical data from AP31969 shows great promise and we are delighted to support Acesion in taking AP31969 through to phase 2 completion."
Jørgen Søberg Petersen MD PhD MBA, partner in Novo Holdings, said "As the founding and largest shareholder, Novo Holdings remains committed in helping Acesion realise the full potential of AP31969. The preclinical data is encouraging and with this series B financing in place Acesion will be able to progress the development to the important milestone of completing a phase 2 trial and thereby being ready for phase 3 programme."