The funding will allow the company to roll out initial controlled clinical trials of INS-2301, the world’s first spray-on insulin
Norwegian company InsuLife is pleased to announce its recent successful capital raise of 25 million NOK. From August 10 to the 24th, interested parties had the opportunity to subscribe to InsuLife shares through Folkeinvest.no, a leading Norwegian crowdfunding platform. Aiming to secure anywhere from 12.5 to 25 million NOK, the investment interest exceeded the team’s expectations— within two days of the investment window closing, all available shares were subscribed.
Garnering press from social media and even Finansavisen, Norway’s leading finance and business newspaper, the capital raise will enable InsuLife to begin clinical trials for its industry-disrupting insulin spray, INS-2301 (formerly named Levellor™).
Åge Nærdal, CEO of InsuLife, comments, “Data from clinical studies are the value driver for pharmaceutical companies. We are grateful to have sufficient capital to run our first controlled clinical trial.”
InsuLife looks forward to welcoming its new shareholders into the fold. For more information on the project, please visit insulife.com.
Folkeinvest is a Norwegian digital investment firm that assists start-ups in securing capital. Through crowdfunding, investors of all levels and backgrounds can engage with the most exciting opportunities emerging out of Norway.