Metavallon backs Parkinson's biotech Anacalypsis in first-of-its-kind Greek deal
What's the deal? Anacalypsis TherapeuticsDealroom has a profile for this one. Try Dealroom →, an Athens-based biotech developing treatments for Parkinson's disease, has raised a pre-seed round led by Metavallon VCDealroom has a profile for this one. Try Dealroom →. The investment, announced September 21, 2026, came through Metavallon's €5 million Brain Gain Fund. It is the first time a Greece-based VC has backed a homegrown drug discovery biotech.
What's the endgame? The money will advance Anacalypsis' lead program, AT001, through a preclinical efficacy study to establish proof of concept. It also supports a broader pipeline of therapeutic and biomarker programs for neurodegenerative diseases.
The science: AT001 targets LRRK2, a protein long linked to Parkinson's. Rather than blocking LRRK2's kinase activity — an approach that has not slowed the disease — AT001 blocks a specific interaction between LRRK2 and a protein called FADD, aiming to preserve other LRRK2 functions. The program initially focuses on patients whose Parkinson's stems from disease-causing LRRK2 gene variants.
Why now? Parkinson's is the fastest-growing neurodegenerative condition worldwide, and no approved therapy has been shown to slow its progression.
Chief executive officer Alexia Polissidis said the financing gives the team "the resources to advance AT001 through the key preclinical work ahead," adding that Metavallon's "conviction in building deep science from Greece makes them the right partner."
Demetris Iacovides, partner at Metavallon VC, said it was drawn to "the strength of the science, the team's expertise in Parkinson's disease biology, and the opportunity to build a globally relevant biotechnology company from research originating in Greece."
The signal: The deal marks a milestone for Greece's deep-tech ecosystem. The Brain Gain Fund targets Greek life sciences startups, university spin-outs, and diaspora founders — and this round shows local capital is starting to back long-horizon drug discovery, not just software.
Image credit: Generated with Gemini
