Akthelia, an Icelandic drug development company, has secured 180 million Icelandic krónur in financing to prepare for its first clinical trials, according to the business newspaper Viðskiptablaðið.
The company is developing a drug designed to reduce the severe side effects associated with cancer treatment. With this latest funding, Akthelia will focus on taking the necessary steps to begin clinical testing of its candidate drug.
Akthelia is also seeking additional financing to support the stages that will follow once initial trial preparations are complete. No further details regarding the planned clinical trials or additional fundraising efforts have been announced at this stage.
Background
Akthelia specialises in developing pharmaceutical products in Iceland. The company’s current focus is on advancing a treatment intended to ease the side effects patients experience during cancer therapy.
Sources
- Viðskiptablaðið (first reported) in Icelandic
- Viðskiptablaðið in Icelandic
