TrackPaw Scientific specializes in developing and commercializing a technical platform to expedite the drug development process. Their product monitors the well-being of individual laboratory animals through weight and activity measurements, reducing the need for manual and time-consuming monitoring. With this new capital infusion, TrackPaw Scientific plans to prepare its solution for beta testing with key clients, including major pharmaceutical companies and contract research organizations (CROs).
The investment is syndicated by LU Holding, Lund University’s investment company, with Almi Invest as the lead investor and the Lund based investment fund I Love Lund. The round is reported to be over € 400.000 (SEK 5 million).
“TrackPaw Scientific is an exciting life science company that can deliver both value appreciation and benefit to Lund, with its strong founder and management team, a rapidly growing market, and a competitive edge over future rivals.”says Björn Englund, CEO of I Love Lund
The company’s technology has garnered interest from global leading clients, and is now planning to hire and scale up product development through pilot tests with both local and international pharmaceutical companies.