Funds will be used to support the clinical development of ACO1 in patients with heart failure and reduced ejection fraction (HFrEF) following positive results from a phase 1b study

Novo Holdings today announced that it has co-led a $19M Series A extension financing of AnaCardio, a clinical-stage biopharmaceutical company developing novel contractile agents to treat patients with heart failure. The raised funds will be used to complete the phase 1b/2a GOAL-HF1 study, and to prepare and initiate start-up activities for the subsequent phase 2b study.

Alongside Novo Holdings, the financing round was co-led by Pureos Bioventures and Sound Bioventures. Current investors Flerie, Industrifonden, and Fredrik and Ann-Helene Ljungström also participated in the round.

AnaCardio has successfully completed the first part of the phase 1b/2a GOAL-HF1 study in patients with HFrEF. GOAL-HF1 is the first clinical study in patients with AC01, a novel, selective oral ghrelin receptor (GHSR1a) agonist, which is in development to improve contractility in patients with heart failure. Licensed from Helsinn Group in 2022, AC01 has demonstrated a good safety profile, target engagement, and was well-tolerated with no Treatment Emergent Adverse Events (TEAEs).

The final part of GOAL-HF1 is due to start Q1, 2025, with results expected by the end of the year.

Jørgen Søberg Petersen, Senior Partner, Novo Holdings, said: “Heart failure remains a devastating global health issue, affecting over 6 million individuals in the US and nearly 100 million worldwide. Current treatment options primarily address symptoms and risk factors but fail to target the underlying issue of reduced contractility. AC01 represents a breakthrough approach – a promising, safe inotrope with the potential to transform the treatment landscape. Novo Holdings is proud to support AnaCardio as it advances this critical innovation toward late-stage clinical development.”

Professor Lars Lund, CSO and Founder of AnaCardio added: “The study results demonstrate that AC01 is a promising novel inotrope showing signs of increased contractility without adverse effects, such as tachycardia, arrhythmias, ischemia or hypotension which are typically seen with conventional inotropes when administered to patients with heart failure. AC01 proved to be well-tolerated and showed convincing target engagement meriting advancement to the next development stage testing the drug for 28 days to establish proof-of-concept and enable progress to late-stage clinical development.”

Patrik Strömberg, CEO of AnaCardio, commented: “This is a landmark day for AnaCardio, where we report a significant financing round, welcome three prominent new investors, and announce the positive outcome of the first study with AC01 in patients. We now have the data and funding to accelerate the further clinical development of our first-in-class inotrope to improve the lives of patients with heart failure.”

Johan Kördel, Managing Partner, Sound Bioventures, said: “Heart failure with reduced ejection fraction remains a major unmet medical need, affecting millions of lives worldwide. We are thrilled to be part of this groundbreaking initiative and proud to support the development of a new therapeutic option that has the potential to significantly improve outcomes for patients facing this challenging condition.”

About AnaCardio
AnaCardio AB is a privately held clinical stage biopharmaceutical company developing novel drugs to treat heart failure. AnaCardio was founded based on ground-breaking research from Karolinska Institutet showing improved contractility of the heart muscle through a unique and differentiated mechanism. The Company’s lead program AC01, a first-in-class calcium sensitizing inotrope, is an oral ghrelin mimetic small-molecule, which was in-licensed from Helsinn and is now being developed as a contractile agent in heart failure patients. The company has raised over USD 35 million to date. AnaCardio is based in Stockholm, Sweden.

Find more information about AnaCardio at www.anacardio.com and follow us on LinkedIn.

About Pureos Bioventures
Pureos Bioventures are a series of venture capital funds advised by Swiss-based Pureos Partners that invest exclusively in private innovative drug development companies, with a special emphasis on the next generation of biological drugs and drug formats. The funds’ portfolio companies are built on scientific excellence to develop therapies across a broad indication spectrum including oncology, cardiometabolic, ophthalmology, infectious disease, and neuroscience. Pureos has built a team with in-depth investment, operating and clinical expertise that strives to impact patients’ lives by advancing innovative treatments for devastating diseases. For further information, please visit www.pureosbio.com.

About Sound Bioventures
Sound Bioventures is a specialist life sciences venture capital fund investing in about-to-be clinical or clinical stage private companies in Europe and the USA developing therapeutics in areas of significant clinical unmet need. The founding team has an active approach to investing and brings considerable operational and VC investment experience, including working together on over 40 investments over the past 15 years.

Sound Bioventures operates from Malmö and Stockholm (Sweden), Copenhagen (Denmark) and Washington DC (USA). For more information, see Sound Bioventures.