Industrifonden in SEK 42m round for Glionova

The GP committed SEK 11m to the round alongside Denmark's Novo Seeds and Swedish HealthCap, the latter of which was a founding investor.

Glionova will use the fresh capital to fund the company's first clinical trials for its brain cancer treatment.

Industrifonden's investment comes a day after the GP's sale of MPS to Nordic Capital and brings the total amount raised by Glionova to nearly SEK 50m.

Previous funding
On 20 November, Glionova received a SEK 4.95m grant from the Swedish government's innovation fund, Vinnova.

Company
Founded in 2014, Glionova is an oncology-focused biopharmaceutical company. Its current lead product is a treatment for glioblastoma, the most common and aggressive form of brain cancer.

The company's glioblastoma treatment, GLN-1001, is currently in preclinical development.

People
Nina Rawal is an investment manager at Industrifonden, Johan Christenson is a partner at HealthCap, while Nanna Lüneborg is an investment director at Novo Seeds. Eugen Steiner is the CEO of Glionova Therapeutics.

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