R&D Expansion Backed by €9 Million

EUR 9 Million for R&D Expansion Tetra Pharm Technologies secured EUR 9 million in a Series A round to expand its R&D operations. Scandinavian biotechnology company Tetra Pharm Technologies raised EUR 9 million in a Series A funding round led by a group of Danish investors. Operating in Copenhagen, Denmark, the company focuses on therapeutics targeting the endocannabinoid system to treat neuropathic pain and mental health disorders. With the investment, Tetra Pharm Technologies will increase R&D capacity and expand its commercial operations internationally. Dr. Morten Allesø, Chief Scientific Officer of Tetra Pharm Technologies, said: "We have a promising drug pipeline that we believe has the potential to treat and potentially improve health conditions resulting from specific imbalances in the endocannabinoid system. The additional financing enables us to accelerate formulation development and clinical activities." Throughout 2022, Tetra Pharm Technologies signed several major distribution agreements in key European markets, and the company plans to launch its first product to treat neuropathic pain in February 2023. [caption id="attachment_148968" align="aligncenter"] Tetra Pharm Technologies - Laboratory[/caption] Martin Rose, Chief Executive Officer of Tetra Pharm Technologies, added: "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 existing product portfolio and provide us with an opportunity to complete promising drugs in development. We remain committed to our mission of improving the lives of patients and families by formulating effective medicines with a low side effect profile." Source