Animal health company Emollivet raises capital and strengthens team
GOTHENBURG, Sweden, 15th March 2022 – Emollivet, the animal health company that develops user-friendly skin care products for animals, is raising capital and recruiting key people. The new share issue, a rights issue to existing owners, amounts to SEK 5 million.
On 3rd March, Emollivet launched its first product: Emollivet COMBI - an antiseptic emollient spray for horses with pastern dermatitis. The company now announces that it has secured capital in a financing round of SEK 5 million with existing owners. The money will be used for the launch and marketing of COMBI and to accelerate the development of more products for owners of animals who suffer from skin problems.
Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) has decided to subscribe for its share of the issue volume, an investment of 2.92 MSEK. “Emollivet is developing in a very positive way and we see great opportunities in the product segment in which Emollivet operates. The market for animal care products is growing strongly and with the product development strategy that Emollivet has identified, we have an exciting time ahead of us,” says Fredrik Sjövall, Chairman of the Board of Lipidor and Emollivet.
In parallel, Emollivet has expanded the team with two key hires: Product Manager, Alexandra Kettil and E-commerce Manager, Martin Björkman. Alexandra Kettil works with customer interaction to identify upcoming products, regulatory compliance, and preparations for introducing new products to the market. Martin Björkman will be responsible for establishing and maintaining e-commerce infrastructure, customer relations, and development of Emollivet's visibility in digital channels. Both Martin and Alexandra have many years of experience from startups and fast-growing companies. The recruitments represent a strong boost to implementation of the Company's strategy.
“We are now taking steps towards the market and will, in close relationship with customers, develop more products to make the pet owners’ everyday lives easier. I am very pleased with the positive response that our approach, with customer needs and user-friendliness in focus, receives on the market. Because of this, as well as the strengthened trust we have received from owners in the new share issue, I look with great confidence at the commercial steps we’re now taking”, says CEO Stina Linge proudly.