Biovotec announces today that it has raised MNOK 10,0 in a private placement and has secured further funding of an additional MNOK 20,0 conditioned on reaching predefined milestones.
Oslo, Norway, 11th October 2017
The funds will be used to conduct Biovotec’s human clinical trial program and CE marking of its first wound healing product DermaRep™, as well as the launch of the product in 2019. “It is important to secure long term funding of the company, so this in itself is a major milestone. Our current investors, the Norwegian Research Council and the EU Horizon 2020 have loyally supported us since the start up in 2014. New and financially strong international investors have now joined as shareholders enabling us to secure the conduct of our plans for the next years to come” says Chairman Mårten Wigstøl
About Biovotec:
Biovotec is a biotech company focusing on the development and commercialization of novel wound healing products based on its proprietary egg
shell membrane (PEP) technology. The Company´s lead product opportunity (DermaRep™) for rapid and cost effective healing of stalled wounds is scheduled for CE mark submission in 2018 and launch in 2019. The Company is committed to further develop its pipeline of innovative cost effective wound healing products. Biovotec was established in 2014. It is headquartered in Oslo (Norway) and has a subsidiary in Dublin (Ireland). The Biovotec Group has 7 employees.
Further information about Biovotec can be found at www.biovotec.com
For inquiries:
CEO Ralf Schmidt
Mobile phone: +47 959 49 978