Pharmanest is developing SHACT, a topical pain relief product intended for use with intra‑uterine device insertion. An investor consortium comprising Östersjöstiftelsen, Recipharm Venture Fund and Praktikerinvest is investing SEK 28m to fund further development. These funds are expected to be sufficient to advance SHACT to the point of the first submission for regulatory approval in Europe. As part of the transaction, Karolinska Development and KCIF Co‑Investment Fund KB will transfer their entire shareholdings in Pharmanest to the consortium under an earn‑out agreement. Karolinska Development will provide no further financing but retains an economic interest via the earn‑out, which could capture significant future value. No further financial details of the divestment have been disclosed.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2015