Participated · Series B · Jul 2024

Heimdall Power develops and sells sensor balls designed to monitor and optimize electric power grids, with technology the company says can increase existing grid capacity by 20–40 percent. The solution has opened doors to the U.S. market and large grid-infrastructure support packages, and management is positioning the company to win multi‑million dollar contracts there. Heimdall has delivered systems to 50 customers in 21 countries, including state operators in Norway, Ireland and the U.K. The company has grown revenue at about 135 percent annually in recent years but remains unprofitable with an accumulated deficit exceeding NOK 200 million. Heimdall was valued at NOK 700 million in the latest financing, up from roughly NOK 500 million in 2021. The new capital is intended to scale operations and accelerate the path to expected profitability in 2027 or 2028.

Participated · Equity · Feb 2014

BerGenBio is a clinical-stage biopharmaceutical company based in Bergen, Norway, focused on developing treatments for aggressive cancers. Its lead asset, BGB324, is an Axl kinase inhibitor designed to block epithelial-mesenchymal transition (EMT), a pathway linked to immune evasion, drug resistance, and metastasis. BGB324 is being evaluated in Phase 1b trials in patients with acute myeloid leukaemia (AML) and in Stage IIIb and Stage IV non-small cell lung cancer (NSCLC). The company is founded on a proprietary platform, CellSelect™, used to identify and validate novel drug targets and biomarkers. BerGenBio intends to use newly secured funding to progress its pipeline, with particular focus on advancing BGB324. Richard Godfrey serves as Chief Executive Officer and the company announced several board changes alongside the financing. BerGenBio is an oncology biopharmaceutical company based in Bergen, Norway, focused on developing innovative cancer therapeutics. Its lead candidate, BGB324, is a selective Axl kinase inhibitor currently in Phase Ib clinical studies assessing safety and initial signs of efficacy as a single agent and in combination with other drugs. The company’s pipeline also includes preclinical programs BGB001 and BGB002. BerGenBio is led by CEO Richard Godfrey. The company raised NOK75m (approximately $12.5m) in funding to advance development of its portfolio. The proceeds are intended to support continued clinical and preclinical development of its cancer therapeutics. BerGenBio is an oncology-based biopharmaceutical company in Bergen, Norway focused on pursuing novel therapeutic treatments for cancer. Its lead program is BGB324, a first-in-class AXL kinase inhibitor that inhibited tumour development in preclinical AML models and blocks epithelial–mesenchymal transition (EMT). The company states AXL inhibition has potential to delay or prevent metastasis, overcome or reverse acquired chemotherapy resistance, and possibly prevent cancer recurrence. BerGenBio also has a proprietary CellSelect™ platform that uses RNAi screening information to identify novel drug targets and plans a pipeline of oncology therapeutics to advance through to phase II in partnership with industry leaders. The new $8.8M Series A financing will primarily fund completion of preclinical work, taking BGB324 into the clinic by the end of 2012 and the development of an AXL companion diagnostic/biomarker. The company’s investors include Investinor, Sarsia Seed, Sarsia Development, Norsk Innovasjonskapital, Birk Venture, Meteva and employees. BerGenBio develops the CellSelect™ RNAi discovery platform to identify novel drug targets involved in cancer and to inform new treatment paradigms. The CellSelect technology uses information from RNAi screening studies and the company has deep expertise in tumor micro-environment, epithelial–mesenchymal transition (EMT) and mechanisms of drug resistance. BerGenBio offers technology access via fee-for-service, discovery collaborations, and is developing its own therapeutics through to phase II. The company recently secured NOK7 million from local Sarsia Seed and Development funds and has also received grants from Innovation Norway and FORNY, with additional support from the NFR for graduate PhD studies. Management says the financing will be used to further develop the CellSelect platform, increase contract service revenue and advance the company’s internal pipeline. The company is based in Bergen, Norway and was founded on the proprietary CellSelect platform technology.

Led · Equity · Jan 2011

Isentio AS, founded in 2005, develops software based on advanced DNA analysis methods created by founders Øyvind Kommedal, Øystein Sæbø and CEO Bjarte Karlsen. Its RipSeq® software is a web-based sequence analysis solution for identification of multiple bacteria after direct sequencing of clinical patient samples. RipSeq is in use at hospitals in Europe and the USA. The company intends to use new funding to grow sales, marketing and support and to accelerate development of new application areas. Isentio has already commercialized its core product and remains research-driven. The company is based in Bergen, Norway.

Led · Equity · May 2010

APIM Therapeutics, founded in 2009 and based in Trondheim, Norway, is developing novel peptide therapeutics that target Proliferating Cell Nuclear Antigen (PCNA). Its lead candidate, ATX-101, is an anti-cancer peptide that has shown promising activity in multiple preclinical solid tumor and blood cancer models. ATX-101 has demonstrated the ability to potentiate the action of more than 15 clinical drugs. The company originated from scientific work at Prof. M. Otterlei’s laboratory at the Norwegian University of Science and Technology and is led by CEO Konstantinos Alevizopoulos. APIM plans to use the proceeds from the recent financing to advance ATX-101 toward late preclinical development. To date the company remains at the preclinical stage and has reported no public operating metrics in the article. APIM Therapeutics is an early-stage therapeutic company based in Trondheim, Norway, developing proprietary peptide drugs that target PCNA to selectively eliminate cancer cells. The company pursues synthetic lethal approaches using its peptides in combination with existing chemotherapeutic agents. Its lead compound, ATX-101, has shown promising anti-cancer activity in several blood and solid tumor models in preclinical in vitro and in vivo assays. Research underpinning the company comes from Prof. M. Otterlei and co-workers at the National Institute of Science and Technology in Trondheim. The company is led by CEO Konstantinos Alevizopoulos. APIM intends to use newly raised funds to further advance the preclinical development of ATX-101. APIM Therapeutics is a Trondheim, Norway-based early-stage therapeutic company developing proprietary peptide drugs that target PCNA. The platform stems from an original discovery by Prof. Marit Otterlei and co-inventors at NTNU. Its lead candidate, ATX-101, is being developed as a novel anti-cancer treatment aimed at modulating DNA repair and cell cycle control in tumor cells. The company intends to use the recently raised funds to pursue further in vivo testing of ATX-101. Shareholders include NTNU Technology Transfer AS and existing backer Sarsia Seed AS. The company is led by CEO Konstantinos Alevizopoulos. APIM Therapeutics AS is a spin-out from The Norwegian University of Science and Technology (NTNU). The company has developed novel peptide drugs that have the potential to improve clinical outcomes achieved with a large group of existing first-line chemotherapeutics. According to FinSMEs, APIM Therapeutics has raised NOK3.5m (approximately €440,000) from Sarsia Seed AS. Sarsia Seed is described as a Seed Capital Fund that invests in Norway-based early phase technology companies within the energy, cleantech and biotechnology/life science sectors. The article does not disclose additional operational metrics, commercialization plans, or timelines. The announcement was reported by FinSMEs on 27/05/2010.