Venture capital company Nascent Invest recently bought shares of QureTech Bio as part of a targeted share issue. The multi-million SEK investment will provide long-term security for the Swedish life science company as it continues its work to discover new solutions to combat antibiotic-resistant bacteria. A combined total of SEK 14.4 million has been invested in the company by Nascent Invest together with existing shareholders such as founders and Nordiska Centrumhus.
The company’s incoming CEO Helén Fält, who previously worked as QureTech Bio’s business coach at Umeå Biotech Incubator (UBI), will now be responsible for driving development forwards. She formerly takes over the role in mid-January.
“We are convinced that Helén is perfect for us as we enter the next phase of our business and corporate development. With her broad set of skills and impressive network within the biotech industry she will have an important role in our future,” says Fredrik Almqvist.
Helén Fält has previously worked within life science research and development as well as pharmaceutical contract manufacturing, and has also participated in clinical studies in the Västerbotten region.
“I have worked in this industry throughout my entire professional life in various organisations and positions. I have a background in research, which means that I know what is needed for the company to succeed , but also that I understand the conditions that founders, owners and employees have,” says Helén Fält.
With immediate effect she will divide her time between her two roles as acting CEO at QureTech Bio and as a business coach at Umeå Biotech Incubator.
“At UBI I have worked with all phases in the development of startups. In recent years I have worked intensely with financing and growth, participated as an adjunct board member in several startups and established a wide network of contacts. I enjoy working in teams and towards common goals, and hope to contribute with my knowledge, positive attitude and drive. I look forward to this challenge and hope to grow into the role and develop professionally together with the company,” says Helén Fält.
“I see it as an enormous positive that Helén has been our business coach. She already knows the company and has been involved in helping to grow it, so now she can really hit the ground running,” says Fredrik Almqvist.
With Helén Fält now leading the company, Fredrik Almqvist can focus on research issues in his new role as Research Director.
“This will enable us to optimise everyone’s skills to the fullest,” says Helén Fält.
Antibiotic-resistant bacteria is a growing problem and can result in medicines becoming ineffective. QureTech Bio is developing new drugs that either enhance the existing effects of antibiotics or disarm bacteria instead of killing them, thereby reducing the threat of resistance.
“QureTech Bio recently received preliminary approval in the US for a patent application for one of our drug candidates. We hope this can be used to treat tuberculosis in the future. The US is a key market for us, so we are at a very exciting stage,” says Helén Fält.
For further information please contact:
Helén Fält, CEO QureTech Bio
+46 73-822 70 18
Fredrik Almqvist, PhD
QureTech Bio Co-Founder and Research Director
+46 70-397 90 97
About QureTech Bio:
QureTech Bio is a Swedish pharmaceutical development company that addresses a significant medical need by developing a new class of antibacterial agents that target antimicrobial resistance. QureTech Bio’s vision is to develop first-line medicines to combat infectious diseases and the occurrence of antibiotic resistance, establishing itself as a leading pharmaceutical discovery company in its field.