LUND, SWEDEN – Paindrainer AB announces a successfully completed share issue of 9.5 MSEK, supported by Almi Invest, Fredrik Sjödin via Tramontane Invest, ReThink Capital and existing shareholders.
The use of proceeds focuses on Paindrainer AB continued successful commercial rollout in the US of the unique drug-free, digital remote therapeutic monitoring system for chronic pain patients, using a proprietary AI powered neural network. It also enables the company to continue conducting clinical trials with top-tier health organizations, as well as to add further functionalities to 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.” says Erik Frick, CEO Paindrainer AB.
Two new anchor investors join the company to support the commercial journey forward.
“I am excited to join Paindrainer as an engaged shareholder in its journey towards helping chronic pain patients increase their quality of life” says Fredrik Sjödin, CEO, Tramontane Invest AB.
“We are thrilled to support Paindrainer AB 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 U.S. and beyond.” Says Joel Gardestrand, Investment Manager ReThink Capital AB
Paindrainer AB is a digital therapeutics (DTx) company developing digital platforms and applications contributing to health and well-being. The Paindrainer app is the first evidence based digital tool demonstrating improved quality of life in patients suffering from chronic pain. The solution is powered by a proprietary Artificial Neural Network (ANN) and is fully adaptive to each chronic pain patient, demonstrating our unique and patented 360o patient-centricity concept.
