Lipidor's subsidiary Emollivet takes the next step towards launch and receives funding from Vinnova
STOCKHOLM, April 23, 2021 /PRNewswire/ -- Sweden's innovation authority Vinnova is investing in Lipidor's subsidiary Emollivet. The funding from Vinnova is for SEK 300,000 and will be used for a project in which Emollivet, through interaction with animal owners and others in the animal health market, will gather data for the upcoming launch.
Emollivet develops animal care products based on Lipidor's patented AKVANO technology. The company was funded in 2020 to focus on commercializing animal care products. Since Stina Linge was recruited as CEO last autumn, development in Emollivet has accelerated.
Through the open call "Innovative startups step 1", Vinnova finances start-ups in Sweden that want to contribute to sustainable growth in a global market, with scalable operations that are based on innovative products or services. In the spring round, 934 applications were submitted to Vinnova and Emollivet is one of the selected companies awarded funds through the open call.
Emollivet's CEO Stina Linge: "This shows that Vinnova sees potential in our growing business in the same way as we do ourselves. We're very much looking forward to being able to accelerate this work, and we encourage pet owners with skin problems to contact us for interaction during our test period".
The information was submitted for publication, through the office of the contact person, on 23 April 2021, at 8.15am CEST.
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Company Codes: Frankfurt:L7R, ISIN:SE0012558617, Stockholm:LIPI, Munich:L7R, Stuttgart:L7R