Nanoform continues strategic growth with €10 million private placement
Helsinki, Finland – Nanoform, an innovative medicine enabling nanotechnology company, announced the completion of a private placement totaling €10 million, with Ilmarinen Mutual Pension Insurance Company and Mandatum Life Insurance Company (Sampo Group) acting as anchor investors.
The funding will be used to further develop Nanoform’s best-in-class nanonizationTM technology and strategically expand its ability to handle highly potent APIs. The investment will enable Nanoform to meet the growing demand for nanonized drug compounds with increased solubility and bioavailability.
The private placement follows the rapid construction of Nanoform’s first GMP manufacturing plant. Finalizing construction of this, and further building a second GMP facility, will help accelerate the development of more efficient therapies by significantly increasing the number of nanonized materials reaching clinical trials.
Albert Hæggström, CFO of Nanoform, said: “We are delighted with Mandatum Life Insurance Company’s additional investment in Nanoform and we sincerely welcome Ilmarinen Mutual Pension Insurance Company as a new shareholder. The completion of the private placement will enable us to add additional capacity to meet the growing demand we see from the market for enhanced APIs.”
Notes to the Editor
For further information, images and interview opportunities with Nanoform, please contact Lizzie Harrett at Notch Communications
+44 (0) 161 457 7230
Nanoform is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to reduce clinical attrition and enhance their molecules formulation performance through its best-in-class nanonization™ services. The company’s multi-patented and scalable Controlled Expansion of Supercritical Solutions (CESSᵀᴹ) technology produces nanonized “designed-for-purpose” API particles, as small as 10nm. This enables poorly soluble molecules in the pharmaceutical pipeline to progress into clinical development by increasing their rate of dissolution and improving their bioavailability. Nanoform’s unique nanonization™ technology provides novel opportunities in diverse value enhancing drug delivery applications.
For more information please visit http://www.nanoform.fi/