Industrifonden and Investinor of Norway are investing a combined SEK 79 million in the specialty pharma company Pharmalink. Private investors are also participating in the share issue, which totals SEK 96 million. The money will be used for the further development of Pharmalink’s product portfolio.
Pharmalink is a specialty pharma company that improves and refines existing drugs. Its current projects are Nefecon as a treatment for nephritis and Busulipo as a treatment for bone marrow transplantation.
The company is raising capital now in order to implement clinical studies of Nefecon and prepare Busulipo for clinical trials. Pharmalink is also seeking commercial partners outside the Nordic region and plans to establish a Nordic sales organization.
“We are very pleased to have raised this capital as we focus on completing the development of Busulipo and Nefecon,” says Johan Häggblad, CEO of Pharmalink. “With financially strong and experienced investors like Industrifonden and Investinor, we look forward to establishing Pharmalink as a leading specialty pharma company in Northern Europe.”
Industrifonden has been a part-owner of Pharmalink since 2004. The Norwegian investment organization Investinor is joining as a new part-owner.
“We believe strongly in Pharmalink. Its business model offers low development costs, lower risk and a shorter time to market compared with many other specialty pharma companies,” says Ann-Tove Kongsnes, Investment Director at Investinor.
The investment is part of a recently announced collaboration between Industrifonden and Investinor aimed at providing life science companies with access to international capital.
“We are very pleased to have succeeded in attracting international venture capital to Pharmalink,” says Lennart Hansson, Business Area Manager at Industrifonden. “It is important that we bring in more investors to Swedish and Nordic life science.”
For more information, please contact
Lennart Hansson, Business Area Manager at Industrifonden, tel +46 706 31 00 31
Johan Häggblad, CEO of Pharmalink, tel +46 70 668 06 44
Ann-Tove Kongsnes, Investment Director at Investinor, tel +47 930 54 975
Investinor ( www.investinor.no ) is Norway’s largest investor in venture and expansion capital, and manages a NOK4.2 billion (EUR525m) evergreen fund.
Industrifonden ( www.industrifonden.se ) invests in small and medium sized Swedish companies with international growth potential. The Fund has assets of SEK 3,6 billion and investments in 92 companies in technology, cleantech, life science and industry.