New company to invest up to EUR 19 million in life science startups
SmiLe Incubator is now launching SmiLe Inject Capital AB, the first angel investment company in Sweden that focuses solely on promising early-stage life science companies. The financing is provided by experienced business angels along with the state-owned venture capital company Saminvest.
Through INJECT, private investors are being offered the opportunity for the first time to benefit from SmiLe’s comprehensive life science expertise, international networks and unique insights into early-stage life science companies.
Investments will be made in companies that have participated in SmiLe’s incubator program for at least six months, or an equivalent program at a recognized innovation partner in Southern Sweden.
The aim is to invest EUR 3,9 million (SEK 40 million) in 10-15 promising life science companies over two years. There is also an opportunity for follow-on investments totaling EUR 15 million (SEK 150 million) through business angels and Saminvest's Annexstruktur.
"I am incredibly proud and pleased that together with experienced business angels and Saminvest we can now launch SmiLe Inject Capital. All successful incubator environments worldwide are associated with capital and the fact that we can now offer innovative life science companies in Southern Sweden access to venture capital is an important milestone for SmiLe. This step also enables us to contribute to the development of more Swedish innovations that can stay in Sweden, which is crucial for us to maintain our international competitiveness," says Ebba Fåhraeus, CEO of SmiLe Incubator.
The business angels in SmiLe Inject include 11 well-known Swedish investors.
The initiative will help to strengthen the financial ecosystem for life science companies in Southern Sweden, thereby accelerating commercialization of innovations in pharmaceuticals, medtech and e-health.
"We are extremely pleased that Saminvest and SmiLe are now establishing a dedicated investment company for early-stage life science companies. SmiLe Inject Capital will be an important addition to the Swedish life science industry, where access to both capital and ownership expertise are essential for companies to achieve successful development," says Peder Hasslev, CEO of Saminvest AB.
For more information, please contact: Ebba Fåhraeus, CEO of SmiLe Incubator, +46 (0)734 000 433, ebba@smileincubator.life
Photo of Ebba Fåhraeus, CEO of SmiLe Incubator.
About SmiLe Inject Capital: for more information about the company, please visit our website.
About Saminvest: Saminvest is a venture capital investment firm that is wholly owned by the Swedish state and which invests indirectly and together with private capital. Saminvest actively promotes the establishment of new venture capital funds and business angel programs to develop the Swedish venture capital market and to indirectly support innovative and fast-growing companies. The initiatives will lead to the growth and renewal of the Swedish business community.
About SmiLe
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe helps entrepreneurs commercialize their ideas. There are currently 25 companies in SmiLe which, together with alumni companies, have attracted more than EUR 460 million in venture capital to date since 2014. SmiLe offers excellent business coaching, a broad international 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 EUR 1,3 billion (Q1 2021). www.smileincubator.life
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