€9 million for R&D Expansion
Tetra Pharm Technologies secures €9 million in Series A Round to expand R&D Operations
Tetra Pharm Technologies, a Scandinavian biotech company, has raised €9 million in a series A round led by a group of Danish investors. In order to treat neuropathic pain and mental health disorders, the company, which has operations in Copenhagen, Denmark, focuses on therapeutics that target the endocannabinoid system.
Tetra Pharm Technologies will expand its international commercial operations and its capacity for Research and Development as a result of the investment.
"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.
Tetra
Pharm Technologies completed a number of significant distribution agreements in 2022 across their key European markets, and they plan to launch their first neuropathic pain treatment product 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.
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