Karolinska backs Forendo Pharma

Karolinska is taking a 21% stake in the company. Novo Seeds and Finnvera also participated in the financing round.

Together with previous funding from Tekes, the planned tranched funding rounds are expected to reach €10m over a three-year period, of which Karolinska will invest up to €3m.

Company
Based in Turku, Finland, Forendo is developing new treatments for endometriosis and for low testosterone levels, based on research from the University of Turku.

The newly established company will operate with 10 employees in Turku and Oulu in Finland.

People
Torbjörn Bjerke is the CEO of Karolinska. Risto Lammintausta is the CEO of Forendo.

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