Gedea Biotech has completed a successful issue among existing owners for just over SEK 10 million. The issue, which is part of the company’s long-term plan, will fund clinical trials, CE labeling and partnering activities.
Gedea is currently conducting clinical trials with pHyph for the treatment of bacterial vaginosis and vaginal candida infection. Preliminary results are expected in the spring of 2019, after which Gedea will initiate efforts to find a partner for distribution and sales of pHyph. CE labeling of pHyph is expected in late 2019.
The issue was carried out among existing shareholders and the southern Sweden investor network Porte-Monnaie Ventures chose to increase its stake in the company.
“Our goal is to own at least 10% of the companies in which we invest and since we believe that Gedea is well positioned, we are taking the opportunity to increase our ownership to 10 percent,” says Joakim Falk.
Almi Invest has also chosen to increase its holdings to about 8%, according to Per Antonsson at Almi Invest.
Joakim Falk from Porte-Monnaie is satisfied with developments at Gedea Biotech.
“We invest in both listed and unlisted companies. Regarding unlisted companies, we invest at an early stage, often together with business angels. While the company’s business concept is important, having the right management is also crucial. A phenomenal business concept is not worth much unless the company has the right strategy and management,” he says.
Gedea Biotech is a members of SmiLe Incubator, a business incubator in the life sciences that helps entrepreneurs to commercialize their ideas by offering business advisory services, laboratories and networks. The companiy is also in LU Holding’s business portfolio. www.smileincubator.life www.innovation.lu.se
About Gedea Biotech: Gedea Biotech is developing a new treatment method for vaginal infections. Vaginal infections can be caused by both bacteria and fungi and Gedea’s treatment is expected to be highly efficacious for treating both conditions. The first clinical study is conducted using GDA001 in patients with vaginal fungal infections.
Contact: Annette Säfholm, CEO, +46 (0)708-918681, www.gedeabiotech.com