OnDosis announced securing SEK 92 million from Aeternum Capital, DIG Investment and Albonja.

OnDosis, a Gothenburg, Sweden-based tech provider of personalized dosage of medicines, announced securing a pre-IPO private placement of SEK 92 million ($11.1M).

The money was raised from local investors from Sweden, including Aeternum Capital, DIG Investment (H&M family's venture capital company) and Albonja (Anders Rabbe).

Anders Tuv, advisor to Aeternum Management, will also join as board member of Ondosis.

The private placement follows the successful expansion of the strategic collaboration between OnDosis and Tiefenbacher Group, announced on May 2021.

Proceeds from the share issue will be used for growth, as the company is focusing on finalising development of the ongoing drug-device development fortreatment of ADHD, and initiating four new projects in the areas of rare disease and transplantationmedicine. In addition, OnDosis will focus on establishinga digital platform and developing its digital capabilities, as well as scaling up supply chain ahead of FDA filing of the drug-device combination.

OnDosis, founded in 2017 as a spinout from AstraZeneca and led by CEO Martin Olovsson, operates a proprietary technology platform which is centered around a connected handheld dosing device that delivers tailored doses of oral medicines. The innovation behind OnDosis has been developed over a number of years in AstraZeneca’s Pharmaceutical technology and development labs.

OnDosis previously raised SEK 30 million from AstraZeneca, GU Ventures and DIG Investments in 2020.