As previously reported, rapid in vitro diagnostics specialist, RAPIvD Ltd, has been assisting with the invention of a reusable pregnancy device for Swedish company, Pharmista Technologies. Pharmista is already a participant in the SmiLe life sciences start-up business incubator program and has now been accepted to the BioInnovation Institute (BII) Venture Lab program in Copenhagen.

BII’s one-year program supports early-stage companies in business development, scientific advancement, and team development. Membership also includes financial support in terms of a convertible loan of €500,000.

Pharmista is developing a reusable pregnancy test for home use and it is the company's goal to have a prototype ready by the end of the program that can be reused at least ten times with high accuracy. After completing the Lab program, companies can apply to join BII's Venture House program and receive an additional €1.3 million in funding. 

"Being part of Venture Lab means that we will have access to BII's mentorship program, their facilities in Copenhagen and their extensive network. In addition, we finally have the funding to accelerate the development of our technology and product. We are very excited about what this year has to offer," says Alice Mattsson, CEO of Pharmista Technologies. 

“Pharmista Technologies is developing an exciting new solution within the women’s health space, and we are thrilled to support them through our Venture Lab program. Besides having a commercially interesting and impactful case, they also have a great team which is fundamental when you are an early-stage startup,” says Johanna Roostalu, Director of Women’s Health at BioInnovation Institute.

Ulrika Ringdahl, COO of SmiLe Incubator, added. “We are very happy and proud that one of our incubator companies has been selected to participate in BII's Venture Lab program. Our task is to support our companies in every way possible to help them succeed. It is very positive that Alice Mattsson now gets access to an expanded network and an opportunity to further develop the product and the company".

RAPIvD CEO, Dr Rob Porter said. “I’m delighted for Alice and the Pharmista team. They’ve got a great piece of technology in the pipeline and now have the injection of funds, facilities and expertise to take a giant leap towards a market-ready product”.

Ends.

Links:

RAPIvD: RAPIvD | Rapid IVD R&D | UK

Pharmista Technologies: Home | Pharmista Technologies