Almi Invest backs Avalanche Biotech

Avalanche contacted Almi regarding the investment and discussions took around four months in total to complete. The fresh capital will be used for launching the company internationally, as well as for recruitment and marketing purposes.

Almi recently invested in Karlstad-based CamCoil Systems Sweden. The firm has to date invested SEK 1bn in total and its portfolio consists of close to 350 growth companies across all sectors.

Company
Based in Gothenburg and founded in 2012, Avalanche Biotech is a start-up that develops microfluidal tools for the life sciences sector, which allow contamination-free stimulation of surfaces and individual cells. Three Chalmers researchers have discovered a new multi-functional pipette that could reduce experimental costs by up to 90%.

The company's main target group is life sciences researchers at universities as well as within the global pharmaceutical industry and national health laboratories, with a particular focus on cell and membrane research as well as pharmacology.

People
Robert Hellman is an investment manager at Almi. Gavin Jeffries is the CEO of Avalanche Biotech.

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