Paindrainer, a leading digital therapeutics company, has successfully secured over € 800,000 in an oversubscribed share issue. The investment round was supported by notable investors, including Almi Invest, Fredrik Sjödin via Tramontane Invest, ReThink Capital, and existing shareholders.
The funds will be used to drive the commercial rollout of Paindrainer’s groundbreaking, drug-free, digital remote therapeutic monitoring system for chronic pain patients in the US. This system utilizes a proprietary AI-powered neural network to deliver personalized care. Additionally, the investment will support ongoing clinical trials with top-tier health organizations and the development of new functionalities for the digital tool.
“Having completed a share issue transaction in the current market with support from both existing and new owners feels fantastic. It shows the growing interest in these types of second-generation digital companies, and it enables us to increase our presence in the highly important US market with our remote therapeutic monitoring solution,”
said Erik Frick, CEO of Paindrainer
The company welcomes two new anchor investors, who will support Paindrainer’s commercial journey.
“I am excited to join Paindrainer as an engaged shareholder in its journey towards helping chronic pain patients increase their quality of life,”
Fredrik Sjödin, CEO of Tramontane Invest, said.
Paindrainer is developing digital platforms and applications that enhance health and well-being. Their flagship Paindrainer app is the first evidence-based digital tool proven to improve the quality of life for chronic pain patients. The solution is powered by a proprietary Artificial Neural Network (ANN) and is fully adaptive to each patient, embodying Paindrainer’s unique and patented 360° patient-centricity concept.
“We are thrilled to support Paindrainer as they continue their mission to improve chronic pain management. Their patient-centric approach aligns with our vision of investing in innovative solutions that make a real difference. We look forward to supporting their expansion and impact in the US and beyond.”
said Joel Gardestrand, Investment Manager at ReThink Capital
