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Sorainen Advises Antegenes on Raising EUR 2.3 Million

Sorainen Advises Antegenes on Raising EUR 2.3 Million

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Sorainen has advised Estonian health technology company Antegenes on raising EUR 2.3 million in funding.

"Antegenes raised EUR 1.6 million from investors in a seed round, which was led by Pipedrive co-founder Timo Rein, Pipedrive’s first investor Peep Vain, and entrepreneurs Aare Kurist and Andreas Henn Otsmaa," Sorainen informed. "In addition, Antegenes has received two grants to bring research-intensive innovation to international healthcare by the EIT and Health Norway Grants Green ICT program."

According to the firm, the funding will be used to bring Antegenes' "innovative genetic tests for personalized cancer prevention into wider use in healthcare, scale the team, and expand to new foreign markets."

Founded in 2018, Antegenes is an Estonian medical technology company, providing genetic tests designed to assess personal cancer risks.

Sorainen previously provided pro-bono legal advice to Antegenes on the possibilities of expanding to other countries (as reported by CEE Legal Matters on December 31, 2021).

"To reduce cancer deaths, the genetic predisposition of cancer should be analyzed for all people, and our vision is to implement this internationally with our partners," Antegenes CEO Peeter Padrik commented. "This is why the current investment round is very important for our growth and next steps. We are glad that investors share our vision of the future of healthcare."

The Sorainen team included Partner Toomas Prangli, Counsel Lauri Liivat, and Associate Kadri Puu.

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