The second close of Akthelia's closed follow-up bridge funding round was over twice oversubscribed. Akthelia will now continue laying the necessary groundwork pursue funding for pre-IND enabling and Phase 1 studies..

Akthelia's founder Guðmundur Hrafn Guðmundsson was recently awarded a grant from the Icelandic Cancer Society to fund research into prophylactic therapies for febrile neutropenia..

More information on the Society's web site.

Rapid investment in new treatments, improved infection control measures, and optimised use of antibiotics are among the measures that can help countries protect their health systems against the threat of AMR.

Akthelia has secured a closed follow-up bridge funding round. 12 existing shareholders, bought shares for a total of 27 mISK.

The plan for the investment is to conduct further animal studies, define target product profile and position the company to be institutional investor ready.

Akthelia has enlisted Steingrímur Stefánsson in the role of Senior Scientist. Steingrímur (Stenni) finished a Ph.D. Degree in molecular biochemistry from Virginia Commonwealth University in 1990 and has worked in senior roles for various biotech companies in the US since then. 

He has extensive experience in protein purification, protein modifications, protein-protein interactions, proteinases, their inhibitors. 

He also has a wide experience in cancer cell biology and assay development https://www.researchgate.net/profile/Steingrimur-Stefansson

Akathelia together with co-founder prof. Guðmundur Hrafn Guðmundsson has been awarded a RANNÍS grant from the Applied Research projects (Hagnýt rannsóknarverkefni) for the initial development of a novel wound healing technology. The total grant amounts to 45 mISK over three years.

Akthelia has closed an angel-led funding round. 12 new shareholders, many of whom are angel investors with pharma industry background, bought shares for a total of 31,5 mISK. In addition, Nýsköpunarsjóður atvinnulífsins extended and converted a bond amounting to 10,8 mISK to shares, bringing the total round to just over 42 mISK. 

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. Total grant is 46 mISK over two years.  

RANNÍS has awarded Akthelia a grant from their Vöxtur program. Total grant is 46 mISK over two years. This grant increases greatly the scope of Akthelia’s development program. Akthelia’s main current goal is to show proof of concept in an established animal infection model. 

Akthelia has developed and patented a class of small molecules that modulate the body’s innate immunity, leading to elimination of bacteria and clearing of infections. Instead of administering antibiotics, Akthelia’s approach acts like a switch that turns on our innate antimicrobial defences and strengthens epithelial cell walls and has been shown to work against multiple pathogens, including resistant ones. The compounds might constitute the first broad spectrum antibiotic that does not negatively impact the body’s internal bacterial flora.

The focus of the 2019 Gordon Conference on Antimicrobial Peptides is utilizing our knowledge of mechanisms of AMP action, and mining species diversity to advance application to global infection challenges, including the threat of antimicrobial resistance, and sharing experience of translating fundamental research to commercial development and clinical practice.

Akthelia is strongly represented at this conference.