AttgeNO secures SEK 30M in an investment round including Hadean Ventures.
AttgeNO, a Stockholm, Sweden-based pharmaceutical company developing treatments for acute life-threatening conditions, announced securing a SEK 30M ($3.4M) investment round into the company.
The money comes from Nordic private and institutional investors, new and existing ones, including Hadean Ventures.
This is the first investment of the Norwegian venture company, from its first fund Hadean Capital I, which was closed at NOK 900M ($115M).
AttgeNO, founded in 2005 and led by CEO Per Agvald, is a Swedish drug development company founded by researchers at the Karolinska Institute in Stockholm. The team has found a method of producing completely new nitrogen oxide (NO) containing substances with unique properties. The patented drug candidates have been studied in various animal models of diseases for circulatory system disorders.
The lead candidate Supernitro (PDNO) is targeting acute pulmonary hypertension which may occur in intensive care patients and can lead to fatal outcome.