Almi Invest backs Beactica

Other participants in the funding round included new investors, as well as existing shareholder Unionen. The financing round was approximately 60% oversubscribed, according to the company, with one third of the investors committing for the first time.

The funds raised are intended to accelerate the drug developer's pipeline of novel cancer therapeutics over the next 12 months.

Almi first invested in Beactiva in 2009. The VC firm conducts investments from the early stage to the expansion phase. It is currently investing from its SEK 1.2bn government-backed fund, VC Almi Invest, which was announced in 2014.

Company
Founded in 1984 in Uppsala, Beactica is a drug discovery company with a focus on advancing its internal pipeline of discovery-stage oncology programmes. 

People
Beactica – Per Källblad (CEO).
Almi Invest – Allan Asp (investment manager).

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• Topics
• Early-stage
• Nordics
• Healthcare
• Sweden
• Venture