2023-04-19 08:25Press release

Successful closing of SEK 3 million investment round

Cathrin Johansson, the CEO of MedVasc

Lund, Sweden – SmiLe incubator company MedVasc has closed an investment round of SEK 3 million. The investors include several Life science investors such as Life Science Invest Gamma, but also existing and new private investors.

The raised capital will mainly be used for final product development and for preparing an FDA 510k application for the company's anesthesia catheter SolutioTM. SolutioTM minimizes the pain of implementing the golden standard methods for the treatment of varicose veins and is expected to reach the American market in 2025.

"We note that in a short time, we managed to attract the funds to reach relevant milestones for the coming developments goal for our Solutio™ catheter. It feels very good that we are now expanding our ownership group with new investors who are specialized in Life Science", says the company's CEO, Cathrin Johansson.

For more information, please contact:

Cathrin Johansson, the CEO of MedVasc,
cathrin.johansson@medvasc.se, +46 70 854 88 34,
www.medvasc.se

Language: English

About SmiLe Venture Hub – Pioneering Life Science Innovations

About SmiLe Incubator SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe offers business coaching, a broad international industry and investor network and a unique laboratory infrastructure with state-of-the art instrumentation. Since the start, SmiLe has helped 100+ entrepreneurs commercialize their business ideas. Currently there are some 30 companies in SmiLe incubator which, together with alumni companies, have attracted more than EUR 717 million in venture capital since 2014. To date, 21 of SmiLe´s companies have launched an IPO and these listed companies have a market capitalization of more than EUR 500 million (Q4 2022). 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, Magle Chemoswed, Merck, Prevas, Setterwalls, Zacco, Phase Holographic Imaging and ChemoMetec. www.smileincubator.life