Sciety raises new capital to medtech company in neurology and cancer
CARTANA raised almost 10 million SEK in a share issue that was fully subscribed at the end of September. The company has developed reagents for analysing tissue samples in drug development processes and is based at Karolinska in Stockholm. The new capital will be used for the sale of CARTANA’s first product, which focuses on brain research and for product development in the cancer field.
The share issue was subscribed by investors in the Sciety investment syndicate, Almi Invest and the company’s existing shareholders. Several of the company’s new shareholders have experience in research, business development and investments in the life science sector.
”The company has attracted a lot of interest and the new issue was fully subscribed after the company’s two investor presentations. CARTANA is a high tech company with several patents, initial sales and a global market, matching the investment profile of the Sciety investment syndicate”, says Andreas Lindblom, CEO at Sciety.
The company has run pilot projects with five customers whereof one is a Big Pharma company. In parallel with its commercialisation, the company is developing an upgraded version with increased sensitivity and higher speed as well as a version for cancer research.
”One of three persons who lives in Sweden today is expected to develop cancer during their lifetime and the number of people who live with dementia globally is expected to triple to 152 million by 2050. Our products can contribute important information in the development of new treatments of brain and cancer diseases. We are now looking forward to grow on the market for brain research and speed up our product development in the cancer field”, says Malte Kühnemund, CEO and founder of CARTANA.
Sciety is the leading investment syndicate in the Nordics with the mission to help help life science innovations to reach their full potential and create value. We select unlisted growth companies in the life science sector and prepare them for investments from our membership network.
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