Forendo Pharma receives EUR 4 million in funding
The Finnish drug development company Forendo Pharma has raised four million euros from Vesalius Biocapital III Partners. The funding will be used to further develop Forendo’s portfolio of women’s health solutions.
Forendo has continued its successful funding rounds with the four million-euro injection from Vesalius III, having secured 12 million euros in early-stage funding in 2014 and 5.7 million euros in loans from Business Finland since 2014.
“Forendo Pharma is developing truly novel therapies that have the potential to transform the treatment of endometriosis, a disease that affects tens of millions of women across the globe,” says Stéphane Verdood, managing partner from Vesalius III.
The company’s latest programme to better the treatment of endometriosis has advanced to human testing, aiming to validate an oral treatment that wouldn’t affect hormone levels.
“The investment from Vesalius III, which has a successful track record in backing women’s health companies, is strong endorsement of our growing women’s health portfolio,” states Risto Lammintausta, CEO of Forendo Pharma.
Endometriosis is a chronic condition that affects 170 million women worldwide, causing chronic pelvic pain, infertility and deficient quality of life. Currently, it has no known cure.
Good News from Finland is published by Finnfacts, which is part of Business Finland.