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early-stage
Early-stage transactions include start-up/seed and early-stage equity investments. Start-up/seed financing is provided to companies for use
in product development and initial marketing. Companies may be in the process of being set up or may have been in business for a short
time, but have not sold their product commercially. Early-stage financing allows companies which have completed the product development
stage and require further funds to initiate commercial manufacturing and sales. They may not yet be generating any revenues.
Forbion leads SEK 124m investment in Cardoz
Transaction
Forbion Capital Partners, YSIOS Capital Partners, Industrifonden and HealthCap have held a second
closing of a series-A financing round, raising SEK 124m for drug developer Cardoz AB.
The first closing of the round was held in May, with approximately SEK 100m raised by Forbion,
YSIOS and HealthCap. The lead investor has known the CEO of Cardoz for some time and the deal
originated when the company was looking for funding.
SWEDEN
EARLY-STAGE
Cardoz AB
SEK 124m
Location Stockholm
Sector Pharmaceuticals
Founded 2008
Staff 7
The investors were primarily attracted to the management of the company and the potential of the drug
currently in development. Funding will support phase II clinical tests and the investors hope this will
be the last financing round required.
Company
Cardoz is in the process of developing pharmaceutical products to combat abdominal aortic aneurysms
(AAA). There is currently no medical therapy for AAA and surgery is necessary to avoid rupture.
The company was founded in 2008, employs seven people and is headquartered in Stockholm, Sweden.
People
Marco Boorsma and Sander van Deventer worked on the deal for Forbion. Jonas Brambeck managed
the deal for Industrifonden. All investors will have representatives on the company’s board of directors.
ALMI et al. provide funding for Eco Solutions
Transaction
ALMI Invest, Smålands Affärsänglar AB and local entrepreneurs have invested SEK 2.2m in waste
separation specialist Eco Solutions i Sverige AB.
Part of the capital comes from the ALMI Invest Småland och Öarna fund, with the backers taking a
minority stake in the company.
EARLY-STAGE
Eco Solutions i
Sverige AB
SEK 2.2m
Location
Sector
Founded 2010
Staff 3
Vetlanda
Waste & disposal
services
The deal originated through ALMI Invest’s network of contacts. They were attracted to the company
because of the proven technology offered by EcoBag. Additionally, the company has received interest
from municipalities in a number of countries. The investment will support the setting up of the company
and an expansion in Sweden, Norway and potentially the rest of Europe.
Company
Eco Solutions is a newly formed company that operates the EcoBag AB brand. EcoBag separates waste
according to the colour of bin bags, allowing households to only have one garbage bin. The EcoBag
brand has existed since 2000 and was formerly part of CO Lindberg Verkstads AB. Eco Solutions is
based in Vetlanda, Sweden, and employs three people.
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