Assignments September 14, 2020

Cirio advices Hadean Ventures in one of the largest private biotech investments in the Nordics this year

Gesynta Pharma AB, a clinical-stage life company developing first-in-class therapeutics for chronic inflammatory conditions such as systemic sclerosis, has successfully raised SEK 190 million in one of the largest private biotech placements this year in the Nordics. The placement was led by European life science fund manager Hadean Ventures, advised by Cirio, and was joined by existing investor Industrifonden and private investors.

The investment enables Gesynta to fund the continued development of lead candidate GS-248 for treatment of systemic sclerosis patients. GS-248 provides both anti-inflammatory and vasodilatory effects and has the potential to become a new efficacious treatment for the microvascular dysfunction, which leads to both pain and ulcerations due to poor blood flow in small vessels, that systemic sclerosis patients suffer from.

Hadean Ventures is a life science fund manager that invests in life science companies across Europe with a particular focus on the Nordic region. The funds are backed by leading private and institutional investors. Hadean Ventures has offices in Oslo and Stockholm and collaborates with world-class academic institutions and start-up hubs across the region.

Cirio’s team included partner Per Hedman alongside Jessica Grönberg, Jessika Lagebro and Anders Burén.

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