Tetra Pharm Technologies secures €9 million in Series A Round to expand R&D Operations
The Scandinavian Biotech company, Tetra Pharm Technologies has secured €9M in a series A round led by a group of Danish investors. The company, with operations in Copenhagen, Denmark focuses on therapeutics targeting the endocannabinoid system to treat neuropathic pain and mental health disorders.
With the investment, Tetra Pharm Technologies will increase its capacity in Research and Development and expand its commercial operations internationally.
"We have a promising pipeline of drugs that we believe carries the ability to treat - and potentially cure - health conditions stemming from certain imbalances in the endocannabinoid system. The additional funding enables us to accelerate formulation development and clinical activities", says Dr. Morten Allesø, CSO, Tetra Pharm Technologies.
During 2022, Tetra Pharm Technologies closed several significant distribution deals across their main markets in Europe, and the company expect to release its first product to treat neuropathic pain in February 2023.
"We are delighted to welcome our new investors and look forward to our partnership with them. The investment will create a strong platform to accelerate our current product portfolio and it provides us with an opportunity to finalize the promising drugs we have under development so we can continue to deliver on our mission to improve the lives of patients and their families, by formulating efficient drugs, with a low side-effect profile, at a fair price" added Martin Rose, CEO, Tetra Pharm Technologies.