Gedea Biotech has raised SEK 11M for clinical trials.

Gedea Biotech, a Lund, Sweden-based biotech company announced closing a SEK 11M ($1.34M) investment round. The money comes from local investors, including Porte-Monnaie and Almi Invest, and will be used for clinical trials throughout 2018, to verify the treatment of vaginal infections. The share issue was oversubscribed, and was expanded from estimated SEK 7M to 11.

Gedea Biotech, founded in 2013 and led by CEO Annette Säfholm, developed a new treatment method for vaginal infections. Many women suffer from repeated vaginal infections without being cured. Gedea Biotech's active substance works in a new way because the fungus most commonly found loses its infectious ability, while other fungi and bacteria are inhibited by the pH-lowering properties of the substance.

The substance is naturally occurring and also approved as a food additive and its effect provides great hopes for effective and safe treatment that does not contribute to the occurrence of antibiotic resistance.