The innovative pharma start-up Lipum has entered a new phase in their business as ALMI Invest steps onboard as business partner. The partnership gives Lipum 2,5 million SEK in funding, as the company continues their path to introduce a new biological drug, targeting a central mechanism in chronic inflammation.
Lipum is one of the promising pharma-projects currently residing at Umeå Biotech Incubator (UBI). The company’s mission is to develop a drug to help children suffering from a severe form of rheumatoid arthritis called Juvenile Idiopathic Arthritis (JIA).
The disease is currently treated with non-specific drugs, developed for adults, and often lead to adverse effects. Lipum is aiming at introducing a new form of treatment targeting inflammation with a monoclonal antibody.
Many years behind Lipum’s innovation
The project is based on many years of research by Olle Hernell, professor emeritus in paediatrics at the Department of Clinical Sciences at Umeå University, Susanne Lindquist, Senior research engineer at the Department of Clinical Sciences and Lennart Lundberg, professor, consultant and former guest professor at Umeå university.
Lipum takes in their first venture capital
This milestone partnership came at exactly the right time. Most of the funding of Lipum up until now has been grants and seed funding, but this investment marks a new era in the company’s development. It is Lipum’s first proper venture capital investment.
Our investment in LipUm has made it possible for the company to attract an experienced CEO and also a chairman of the board. This will be important for the success of LipUm, says Mattias Eriksson, Investment Manager at Almi Invest.
Susanne Lindqvist who is the project leader for Lipum is glad to be able to continue their drug development work.
This enables us to continue our effort to develop the next generation anti-inflammatory drugs to help children with arthritis, she says.
Contact Susanne Lindqvist for more info: