Swedish femtech start-up to join acceleration programme in Copenhagen

Swedish start-up Pharmista Technologies, a participant in SmiLe’s incubator programme, is to join the Venture Lab programme in Copenhagen.

The one-year programme, designed by the BioInnovation Institute, aims to support early-stage companies in business development, scientific advancement and team development. Membership also includes financial support in terms of a convertible loan of €500,000.

Focusing on women’s health and sustainability, Pharmista is developing a reusable pregnancy test for home use. The company’s goal is to have a prototype ready by the end of the programme that can be reused at least ten times with high accuracy.

“Being part of Venture Lab means that we will have access to the BioInnovation Institute’s mentorship programme, their facilities in Copenhagen and their extensive network,” explained Alice Mattsson, Pharmista founder and CEO.

“In addition, we finally have the funding to accelerate the development of our technology and product. We are very excited about what this year has to offer.”

Johanna Roostalu, director of women’s health at BioInnovation Institute, said: “Pharmista Technologies is developing an exciting new solution within the women’s health space, and we are thrilled to support them through our Venture Lab programme.

“Besides having a commercially interesting and impactful case, they also have a great team which is fundamental when you are an early-stage start-up.”

Ulrika Ringdahl, COO of SmiLe Incubator, added: “We are very happy and proud that one of our incubator companies has been selected to participate in BII’s Venture Lab programme.

“Our task is to support our companies in every way possible to help them succeed. It is very positive that Alice Mattsson now gets access to an expanded network and an opportunity to further develop the product and the company.”

The BioInnovation Institute is a non-profit foundation financed primarily by the Novo Nordisk Foundation.

Through its Venture Lab programme, the organisation seeks to support companies within planetary health/bioindustrials, health tech, therapeutics and women’s health.

After completing the programme, companies can apply to join the BioInnovation Institute’s Venture House programme and receive an additional €1.3m in funding.