Denator, a Sweden-based biotechnology company, raised SKr25.5m ($3.8m) in its series F round from a consortium co-led by Novo Seeds, the early stage quasi-corporate venturing unit of Denmark-based Novo, as a new investor and its first deal in medical devices.
The other co-lead and new investor was venture capital firm Almi Invest, which has regional investor Almi Företagspartner providing half its money, and
joined existing investors including peers T-Bolaget, Wikow Ventures, SGP Group and Servisen.
Denator previously raised SKr12m in November 2010 and SKr15m in October 2009 and undisclosed amounts before then from its launch in 2004.
Soren Moller, managing investment director at Novo Seeds, will join the Denator’s board. Moller said: "Denator’s innovative heat-stabilization technology [pictured] offers significant value to protein researchers in important areas such as neurodegenerative diseases and cancer. This is Novo Seeds’ first device investment and confirms our continued interest in funding innovative science and entrepreneurship throughout Scandinavia."