# MedTrace Pharma A/S

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/medtrace-pharma-a-s

- Industry: Medical Devices & Equipment
- Headquarters: Horsholm, Denmark
- Website: www.medtrace.dk/
- Total disclosed funding: $19M
- Latest round: Series E (Sep 15, 2023)
- Investors on record: 4

## About

Founded in 2015 by Rune Wiik Kristensen, Martin Stenfeldt, and Peter Larsen and based in Horsholm, Denmark, MedTrace Pharma A/S operates as a medical technology company that develops drugs and manufactures medical devices and their related software for the diagnosis of patients. In September 2023, MedTrace Pharma A/S raised EUR 18.2 million in venture funding co-led by ATP, MedTravest, Swisscanto, and Verve Ventures. As of 2023, the company is led by its interim CEO, Erik Stromqvist. The company also has a presence in the US and Sweden.

The company’s product comprises two components: a P3 automated chemistry system, which facilitates the manufacturing and infusion of 15O-water, ensuring precise and consistent results. The firm’s 15O-water serves as a tool in perfusion imaging, allowing for the visualization and measurement of blood flow within organs. MesTrace also provides a quantitative analytical software platform that enables quantification of myocardial blood flow and perfusion, providing medical professionals with data for diagnosis. This software is designed to integrate with existing PET scanners.

The organization plans to use the September 2023 funding to complete the phase 3 trial of its 15O-water technology, finalize the development of its evaluation software, and secure regulatory approvals.

## Funding rounds

- Series E, Sep 15, 2023, $19M — ATP, Swisscanto, Verve Ventures, MedTravest
- Series D, May 25, 2022 — Swisscanto

## Investors

- Swisscanto (https://capitalatlas.ai/funds/swisscanto) — Series D, Series E
- ATP — Series E
- Verve Ventures (https://capitalatlas.ai/funds/verve-ventures) — Series E
- MedTravest — Series E