45 million SwKr funding for Pharmacore AB
Swedish groups A+ Science Invest, InnovationsKapital and Swedestart haveinvested 45 million Swedish kroner ($4.3 million) in the research company Pharmacore AB. This investment will provide financing for Pharmacore's development of a new cluster of pharmaceuticals for the treatment of common medical conditions such as gastritis, functional gastrointestinal complaints and cardiovascular diseases, ie hypertension and heart failure.
Pharmacore's activities are based on research conducted at Sweden's Gothenburg and Uppsala universities. The firm's chairman, Tomas Hammargren, said that "a confident patent situation, top-class scientists and a large market potential makes Pharmacore a company to be watched closely in the near future," adding that the formation of Pharmacore is one of of several project-related company start-ups within A+ Science Invest.
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