Swedish-based Inhalation Sciences AB (ISAB) has added new minority shareholders Stockholms Affärsänglar (STOAF) and Almi Invest, “with a significant initial capital investment,” the company said. According to ISAB, that investment is the first phase out of three.
ISAB’s PreciseInhale system is used to aerosolize very small amounts of inhalable dry powders for clinical trials.
ISAB CEO Fredrik Sjövall commented, “We see increased possibilities from this broadening of our ownership base. Stockholm Business Angels’ and Almi’s expertise and network will help us realize and speed up the commercialization of our products following the first rollouts of our technology. Getting new owners onboard underlines the growing potential, scalability and exceptional technological caliber of our products.”
STOAF CEO Klaus Gottwald added, “With ISAB we have added another medtech venture to our portfolio of companies with a strong science and technology profile. STOAF will contribute to ISAB’s development through new input in both funding and competence. With our strong international network of business contacts we look forward to helping ISAB establish itself in both Asia and the US.”
Almi Invest Investment Manager Claes Post said, “Thanks to Inhalation Sciences’ technology platform the costs of developing treatments for a range of lung diseases can be significantly reduced. The consumption of expensive test substances during development can be minimized and the precision of the data generated dramatically improved. The pharmaceutical industry has a great need to reduce their development costs while still producing effective treatments against lung disease.”
Read the ISAB press release.
