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Ukrainian medtech startup DrugCards. | Picture credit score: DrugCards
Ukrainian medtech startup DrugCards, an organization that goals to offer pharmaceutical firms with “unparalleled insights” into merchandise’ security, introduced on Friday that it had secured funding from New Nordic Ventures.
Whereas the funding quantity has not been disclosed, DrugCards notes that this collaboration entails extra than simply monetary funding. The corporate says it signifies a strategic partnership that guarantees to convey immense worth to DrugCards’ overarching mission.
New Nordic Ventures boasts an in depth and influential community throughout the pharmaceutical sector, poised to assist DrugCards develop its market attain and progress potential.
The expertise and experience of New Nordic Ventures in mergers and acquisitions is anticipated to offer DrugCards entry to strategic insights that can show essential because the startup continues to evolve.
Even earlier than the official partnership, New Nordic Ventures confirmed help by connecting DrugCards with key gamers in Latvia’s pharmaceutical scene. This not solely opens doorways for potential purchasers but additionally deepens DrugCards’ understanding of the market.
“We’re excited to be a part of Drug Card’s journey as they proceed to pave the best way for enhanced pharmacovigilance and contribute to the development of healthcare options throughout Europe,” New Nordic writes on LinkedIn.
Previous to its partnership with New Nordic Ventures, DrugCards secured €255K in funding from pharmaceutical agency Farmak and a Spanish enterprise capital entity Assume Greater Capital in 2021.
This funding was obtained by the SectorX and Demium programme, which has helped DrugCards to push the system’s progress and take it to a better improvement stage.
Streamlining Drug Security
The corporate goals to simplify the complexities inherent to drug security as pharmacovigilance is likely one of the pivotal processes within the pharmaceutical business.
DrugCard presents an inexpensive software program resolution that totally adheres to rules, designed explicitly for drug security departments to streamline the method of automated medical literature monitoring.
This firm claims that this product contributes to value discount and streamlining of routine operations for pharmaceutical companies, all whereas making certain strict adherence to regulatory requirements within the subject of pharmacovigilance.
The corporate seeks not solely to automate routine duties but additionally to empower professionals to use their {qualifications}, talent units and intensive expertise in making essential selections associated to drug security protocols.
At present, the system presents options akin to steady monitoring of medical literature and reporting on adversarial drug reactions (ADRs), together with evaluation and communication by E2B(R2)/(R3)/CIOMS.
It additionally presents seamless integration with medical databases and terminology, the technology of stories for regulatory authorities and the inclusion of a compliance module that adheres to fashionable validation necessities.
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