MedTrace receives $30 million investment fuelling US expansion and new business area

In Insights

13 May, 2021

AWA’s client MedTrace Pharma A/S has received nearly $30 million from Swiss-based Swisscanto Invest and Danish investors ATP and BankInvest.

MedTrace has developed a fully automated technology that makes radioactive water clinically available to patients in need of diagnostic heart imaging. Radioactive water (15O-water), currently used on occasion for various scans, will now be produced inside the scanning room itself.

This allows hospitals to scan more patients with radioactive water in a shorter amount of time. Additionally, the cardiac scan results will be approximately 50% more accurate than conventional SPECT scans.

The niche technology represents an estimated global market potential of DKK 6 billion for heart patients alone.

The fresh capital is a significant step forward in the company’s plan to expand into the USA and establish a new business area within cancer diagnostics.

AWA has drafted all intellectual property rights for MedTrace since it was founded in 2015, with Michael Bech Sommer from AWA’s Copenhagen office leading the client team including Matthew Baines and Helene Robertsen.

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