STOAF III SciTech och Almi Invest each invests 1.9 MSEK in Developeration AB, who has developed an innovative surgical instrument for treatment of hemmorhoids. The emission of 4.4 MSEK will be used for further product development and clinical trials. Hemorrhoids affect about 25 percent of the population over the age of 50 in the Western world. There are currently several different ways to treat hemorrhoids, but they carry a high risk of recurrence or complications, are expensive, take a long time, require access to the operating theater, are painful, or a combination of these.
STOAF II portfolio company PERCEPIO ANNOUNCES SUCCESSFUL CLOSING OF A 22 MSEK (2.3 MUSD) SERIES A FUNDING ROUND
Percepio announces the successful closing of a 22 MSEK (2.3 MUSD) Series A funding round led by Fairpoint Capital AB. The investment is intended to scale up operations and accelerate the product development roadmap, with a focus on embedded software and Internet of Things (IoT).
STOAF II PORTFOLIO COMPANY ILYA PHARMA AWARDED €5.3M FROM EIC ACCELERATOR TO FAST TRACK PHASE II STUDY OF FIRST-IN-CLASS ILP100 ADVANCE THERAPY FOR WOUND TREATMENT IN PEOPLE WITH DIABETES Ilya Pharma, a clinical stage biopharma company developing novel chemokine gene therapies with its ILP-technology platform, today announced that it has secured a total of Euros 5.3 million in funding from the European Innovation Council (EIC) Accelerator program of blended financing.
Stoaf III SciTech, Almi Invest and others invest 4,8 MSEK in VOC Diagnostics. It is part-financing of a further development and testing of its unique sensor-equipped instrument used for diagnosing ovarian cancer. VOC Diagnostics has recently employed Linda Spahiu as its CEO. The financing is to be used to complete the instrument for clinical use, clinical studies and CE certifcation.
SILICON VALLEY VC LEGEND CLIFFORD HIGGERSON INVESTS IN STOAF III SCITECH AND BECOMES ITS SENIOR ADVISOR
Cliff Higgerson, Palo Alto, CA, previous General Partner in several VC-funds in Silicon Valley invests in Stoaf III SciTech and accepts to become its Senior Advisor. "We are very happy to see the confidence of a Silicon Valley heavyweight such as Cliff shows for Stoaf by investing in our third fund" says the fund´s CEO and General Partner P A Wärn. "He will via his long and successful experience as General Partner in ComVentures and Vanguard Ventures contribute valuable competence to our GP team".
EmbeDL, Gothenburg is a spin-off from a big EU-financed collaborative R&D project with Chalmers University. It has a unique technology for testing sophisticated components used by the automotive industry among other engineering industries. Co-investors are Almi Invest and Chalmers Ventures.
STOAF III SciTech and Almi Invest invest in a first tranche 3 MSEK each in Limina, Stockholm. It has developed the asset management market´s first complete cloudbased asset management system for hedge and mutual funds. In the same financing round of 15 MSEK participates also Vidici II and Justin Wheatley – the founder of his recently sold listed StatPro participated among other participants. - LImina has a great opportunity to accelerate both sales and the continued development of the functionality of its system Captron. The company has the potential to reach a leading global position says P A Wärn, General Partner at STOAF who will take a seat at the board of directors.
Lennart Lübeck with a background as co-founder and CEO of the Industry Fund, CEO and Chairman of the Board of Rymdbolaget, Chairman of the Board of SMHI and more was elected Chairman of the Board of Stoaf's third fund by the Annual General Shareholders Meeting.
In December 2019 Stoaf III Venture Partners got its EuVECA license.
At its first closing Stoaf III SciTech reached a capitalization in half a year which was twice the capitalization of Stoaf II and in less than a quarter of the time. The capitalization aimed at bringing in experienced business angels with competences in the four B2B investment areas from which Stoaf III generates its deal proposals.