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Investinor, Industrifonden lead SEK96m Series C for Sweden’s Pharmalink

4 Oct 2013

evergreen-tree-branch-pine-leaf-twig-nordicNorwegian investment firm Investinor has co-led a SEK96m ($15m) Series C round for Swedish specialty pharmaceutical company Pharmalink AB alongside existing backer Industrifonden.

The company said it will use the funds to advance Busulipo, a conditioning agent for use in cancer patients prior to hematopoietic stem cell transplantation, towards market approval.

It also plans to complete the Phase IIb study with Nefecon, which is a treatment for for patients with primary IgA nephropathy at risk of developing end-stage renal disease.

Pharmalink added that it will look for commercial partners for its products outside the Nordic region.

Investinor investment director Ann-Tove Kongsnes said, “. The Company has significant experience in developing and commercialising specialty pharma products, and in Busulipo and Nefecon, it has two more products with great potential to be successful.

“We hope that the perspective we bring from Norway, where we have deep contacts within centres of excellence such as the Oslo Cancer Cluster, can lead to additional opportunities for development for the company.

“We are particularly pleased to co-invest with Industrifonden, with which we have recently announced a collaborative investment strategy to advance life sciences in the Nordic region.”

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