OnDosis raises SEK 30 million from AstraZeneca, GU Ventures and DIG Investments
OnDosis, a Gothenburg, Sweden-based tech provider of personalized dosage of medicines, announced that it secured financial commitment of a SEK 30M ($3.4M) raise.
The money was provided by existing owners AstraZeneca and GU Ventures, as well as by DIG Investment.
The deal follows a successful signing of a strategic partnership agreement between OnDosis and Tiefenbacher Group.
With the partnership and raise, OnDosis will be able to execute the near-term growth agenda; initially focusing on bringing OnDosis’ ADHD drug/device combination currently in development to the market in the US. This followed by potential initiation of several other drug/device combinations for diseases which require individual dosing and benefit from combining traditional drug-based therapies with digital therapeutics.
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.