Industrifonden leads 120 million SEK financing round in Guard Therapeutics
We’re happy to welcome Guard Therapeutics, a Swedish biotech company that develops new therapies for acute kidney injury, to our portfolio. The company just announced they’ve raised 120 million SEK in new capital from a syndicate led by Industrifonden and including Swedbank Robur Fonder, Strand Kapitalförvaltning and Arctic Asset Management.
Guard Therapeutics develops novel therapies for diseases with a large medical need for more effective treatments. The company’s investigational drug RMC-035 recently received FDA Fast Track designation and is being developed as a kidney protective treatment in connection with open heart surgery. The newly raised capital will be used to secure the completion of the ongoing global phase 2 study (AKITA) and to finance selected preparatory phase 3 activities including CMC development.
Tobias Agervald, CEO at Guard Therapeutics, says: “We’re thrilled by the interest and response from a broad range of specialist and institutional investors. The capital provided by the syndicate led by Industrifonden will significantly broaden our investor base and enables us to run the phase 2 study in cardiac surgery to completion and initiate targeted preparatory activities for a subsequent registrational study.”
Fredrik Lehmann, Venture Partner at Industrifonden, says: “We are excited to support Guards’ mission to provide breakthrough treatment for patients with acute kidney injury.”
Peter Wolpert, CEO at Industrifonden, adds: “Our investment focus is on private companies, but we’re truly impressed by the progress of Guard Therapeutics under Dr Agervalds leadership during the last years.”