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.”