Eagles Owner Lurie Joins Dementia Startup’s $27 Million Funding

Iceland’s Arctic Therapeutics ehf raised €26.5 million ($27.5 million) to fund the development of experimental treatments for a rare form of dementia and skin ailments.

The oversubscribed Series A equity round was led by Iceland’s largest closely held investment firm Kaldbakur ehf and Investcorp-backed Sanos Group ApS, the company said Tuesday. They were joined by the Lurie Family Foundation, established by US billionaire and the NFL’s Philadelphia Eagles owner Jeffrey Lurie.

The dementia drug targets amyloid, a protein that forms clumps in the brain and has been the focus of recent treatments approved for Alzheimer’s disease.

Jeffrey Lurie

Photographer: Patrick Smith/Getty Images

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