Finland-based nanomedicine technology developer Nanoform Finland has completed a €10m ($11.2m) funding round that included Mandatum Life, an insurance-focused subsidiary of financial services group Sampo, Talouselämä reported today.
Pension insurance company Ilmarinen also took part in the round, as did the Open Care Research Foundation and several unnamed existing backers and assorted private investors.
Nanoform is developing nanotechnology that can be used to control and reduce the size of particles to help the active ingredients in drugs dissolve more efficiently.
The funding will enable Nanoform to cope with unexpectedly high demand for its technology, according to chief financial officer Albert Hæggström. The company had previously raised $8.2m from undisclosed investors in September 2018.