Life science was one of the industries that the government identified as a particular priority when Almi Invest received SEK 400 million earlier this spring. How did it go?
– We have expanded the investment mandates for all teams by using the 400 million to complement the regional funds. It will go to all industries, but we have also been clear that life science is a priority area, which is why we launched a social media campaign last summer. Almost half of the investments made so far linked to these increased funds have been in life science companies, and we see a clear interest and need in the industry.
Have you noticed the economic impact of the COVID-19 pandemic in your contacts with companies?
– We have seen an increase in deal flow in several regions during the Corona crisis, including proposals from companies that may not be in the phase we normally invest in but who have contacted us, perhaps because they have had to broaden the circle of investors they are now addressing. We have also seen an increased need for capital among our existing portfolio companies due to. pandemic.
What are the reasons for this?
– Clinical studies and marketing activities have been delayed and bridge financing has been required to address this. The companies have also found it more difficult to get in touch with potential partners and many license deals and exit processes have been paused/unified during the period. This has led to more follow-on investments for us. However, we also have portfolio companies that have not been significantly affected or even benefited from the situation, such as companies that offer digital solutions in healthcare.
How will you work with life science in the future and how do you reach out to life science companies?
– Life science is and will continue to be a priority area for us. In addition to the campaign we launched earlier this year, we are in close and continuous contact with e.g.. science parks, incubators and industry associations to reach out to companies. We also participate in several life science-related conferences and events during the year, including the SwedenBIO Summit on December 9.
