We advised Estonian-based health-tech startup Nanordica Medical on raising EUR 375 000.

The funding round was led by Estonian health and startup investors, including Erki Mölder (Founding Partner of Health Founders and Managing Partner of Verge HeathTech Fund), Heidi Kakko (European Innovation Council IC Member) and Martin Goroško (head of Tallinn Science Park Tehnopol) with the participation of angel investors from Estonia, Germany, Finland, Belgium and Switzerland.

Nanordica Medical is a spin-off of the National Institute of Chemical Physics and Biophysics, a member of the UK P4SY Precision Medicine Accelerator and alumni of the Estonian Tehnopol Startup Incubator and Health Founders Accelerator.

Development of ground-breaking solutions

Nanordica Medical is developing advanced antibacterial wound care products to avoid infection-related amputations. Nanordica Medical has invented and patented nanotechnology that provides eight times better treatment of infected wounds compared to the standard of care.

“Eight times is a huge number in medicine. This means we can cure infected wounds that can not be cured with standard care methods and save around €500 billion costs for hospitals,” stated Olesja Bondarenko, the co-founder and CEO of Nanordica Medical.

Nanordica Medical recently received a highly prestigious €2.4M EIC Accelerator grant for ground-breaking EU innovations. It enables them to expand the clinical study to 220 patients and conduct conformity assessment to receive the CE marking required to sell the wound dressing in EU countries.

The money raised in the current round will be used to conduct clinical trials to test the antibacterial wound care product and to accelerate the certification necessary for the commercialization of the product.

Our services and project team

We advised the client on all matters related to the investment round. Our client team was led by senior associate Mirell Prosa, supported by partner Toomas Prangli, associate Vladislav Leiri and associate Kevin Piho.