Recipharm takes a 25% stake in its drug-developing partner

Swedish contractor Recipharm has deepened its ties with partner Pharmanest, taking up a 25% stake in the biotech as the two collaborate on a pain drug. Recipharm invested 8 million Swedish kronor ($1 million) in the company, joining Östersjöstiftelsen and Praktikerinvest in a 28 million kronor ($3.3 million) round. Pharmanest is at work on a topical treatment designed to alleviate pain related to the insertion of intrauterine devices, or IUDs. Alongside Recipharm, the company is preparing to file its candidate with European regulators. More

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