Pipelinepharma announced raising €1.3 million seed backed by investors led by Practica Capital.

Pipelinepharma, a Vilnius, Lithuania-based operator of a B2B pharmaceutical marketplace, announced that it raised €1.3 million ($1.5M) in a seed funding round.

The money was raised from investors led by Practica Capital and joined by Iron Wolf Capital and Pandos.

Pipelinepharma, founded in 2012 by CEO Mindaugas Zagorskis, built a B2B pharmaceutical marketplace that connects pharmaceutical manufacturers with distributors around the globe. The company says that the marketplace has facilitated pharmaceutical product licensing, supply, acquisition deals of more than €200M in value covering more than 30 markets on 5 continents. It says it features one the largest databases of qualified finished dosage formulation products, with more than 60 000 pharmaceuticals from 1 300 qualified manufacturers