Concit Pharma raises new capital in a seed round extension. Novo Seeds, the seed fund of Novo A/S, joins as new investor
Concit Pharma, which was founded in 2010, develops novel medicine by reformulation and repositioning of safe and efficacious drugs to facilitate development and reduce risks. Concit Pharma is initially focused on projects within movement disorders and neuropathic pain.
Concit Pharma extends its seed financing by investments from new investor Novo Seed as well as existing shareholder Seed Capital. In conjunction with the investment, Bobby Soni, Principal at Novo Seeds will join the board of directors.
“We are happy to announce this seed round extension, and delighted to have Novo Seeds join as an investor. By having Novo Seed as a co-investor we gain significant resources and experience, which will allow us to speed up develop of our novel therapeutics”, says John Bondo Hansen, CEO of Concit Pharma.
Bobby Soni comments: “We are happy to join Seed Capital as co-investors in Concit Pharma. Their innovative approach promises to deliver drugs that rapidly can be developed into novel treatments. We are looking forward to follow the progress of the company’s lead project toward clinical testing”.