SmiLe member company GPX Medical is taking its innovative technology for continuous measurement of pulmonary function in premature infants, which was developed at Lund University, to the next level by listing the company on Nasdaq First North in Stockholm on October 2. The company plans to raise SEK 25 million in conjunction with the listing, and so far 80% of the amount is already guaranteed. This will be the sixteenth company from SmiLe Incubator to complete an IPO.
The subscription period runs from September 7 to September 21.
“Our vision is to help premature infants get a better start in life. By listing the company we create the prerequisites for taking a new decisive step in our development which can result in better care, fewer intensive care days and ultimately less morbidity for these infants. Just like the diagnostic ultrasound that was developed in Lund in the 1950’s, now another medtech innovation from Lund has the possibility to revolutionize healthcare all over the world, ,” says Hanna Sjöström, CEO of GPX Medical.
Currently, one in ten babies is born prematurely and a large proportion of them require intensive care. One of the many challenges is that these infants have underdeveloped lungs and are unable to adequately oxygenate the blood, which could result in life-threatening conditions and cause many to suffer from disabilities later in life. The NEOLA system can further improve the high-class neonatal care by offering a safe, non-invasive method for constant monitoring of the infant’s lungs. The system immediately warns of any complications that may arise, thereby enabling rapid detection and treatment of serious conditions.
GPX Medical AB was founded in 2016 as a subsidiary of Gasporox AB, both based in Lund, for the dedicated development of medical devices based on the same unique gas measurement technology that Gasporox uses. The technology originally comes from research at Lund University.
GPX Medical was formally spun off from the parent company some weeks ago and shares were distributed to the owners of the parent company. As of October 2nd, GPX Medica can be traded on Nasdaq First North.
“I would like to offer my warmest congratulations to Hanna Sjöström and her team on an impressively fast and professional development of the company during the time as SmiLe members. Their innovation will be crucial for the quality of life of a group of very fragile, small patients. It’s a stamp of quality for the companies here in Lund that so many are welcomed to trading places such as Nasdaq First North. GPX Medical is the 16th SmiLe company to complete an IPO which is fantastic,” says Ebba Fåhraeus, CEO of SmiLe Incubator.
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund. SmiLe helps entrepreneurs to commercialize their ideas. There are currently more than 20 companies in SmiLe, which together with alumni companies, have attracted more than EUR 280 million in venture capital to date since 2014. SmiLe offers business coaching, a large network of contacts and a dynamic community, as well as well-equipped laboratories which is unique of its kind in Sweden. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Awa, Høiberg, Prevas, Setterwalls, Zacco, Aqilion. SmiLe’s listed alumni companies have a market capitalization of almost EUR 750 million (Q4 2019). www.smileincubator.life