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Swedish biotech AnaCardio raises €62.5m to advance heart failure drug

Swedish biotech company AnaCardio has raised €62.5 million, equivalent to more than SEK 700 million, in its largest funding round to date. “It’s a big day for us,” says Patrik Strömberg, the company’s CEO.
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The funding means the company can now move ahead with a Phase IIb trial to evaluate its drug candidate AC01 in heart failure. The study is expected to run for around two years and include approximately 400 patients in North America and Europe.

“The study is completely ready to go. We have all the necessary approvals and have completed all the start-up activities. So as early as October, we will begin activating clinical sites and start enrolling patients,” Patrik Strömberg tells Life Science Focus.

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