Millicore AB (Sweden) - Oct 2007

A syndicate of investors comprising CapMan, Industrifonden, HealthCap and Ã?resund Healthcare Capital, has provided a total of Skr 27m to support the development of Millicore AB. CapMan, investing from its fund Swedestart Life Science KB, contributed Skr 15m. The largest shareholders in Millicore are CapMan and HealthCap

Company

Founded in May 2003, Millicore is a Stockholm-based medical technology company focusing on the development of intelligent MEMS-based digital disposable products. The new share issue will be used to launch the company's first product, DigiVent, the market's first digital disposable chest drainage unit. Additionally, the investment will fund the development of new merging products based on MEMS-technology. These products will set new technological standards within thoracic, vascular, urology and neuro surgery by increasing the ability to monitor and predict treatment outcome. Furthermore, in the second half of 2005 the company will begin looking to market its products to the US. Presently, Millicore employs seven staff. People Johan Bennarsten, Lars Persson and Per Samuelsson worked on the deal for CapMan, Industrifonden and HealthCap respectively

Advisers

Equity - ABI, Magnus Andrén (Legal)Management - Mannheimer Swartling, n/d (Legal)

Sourced from: Nordic unquote" 38 (Nov 2004)

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• Expansion
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