ABIGO Medical an GU Ventures engages in Cooperation
Abigo Medical AB and GU Ventures just launched a new strategic cooperation based on the common interest in developing new medical devices and pharmaceuticals. The purpose is to promote and achieve a more efficient development of the two areas and thereby, as an effect of the cooperation, be able to do more and better business.
The companies Abigo Medical and GU Ventures pursue development of new medical devices and pharmaceuticals. Abigo manages their own global sales and distribution and is an internationally fast growing and profitable complete life science company in the Västra Götaland region. GU Ventures practice incubator support and seed investments in new research-based businesses related to the University of Gothenburg. The companies have now united in their ambition to develop new innovative projects into commercially attractive businesses. The focus will primarily be on the areas where Abigo has its core, such as infection control, wound care, ear/nose/throat, eyes, and food for special medical purposes.
- A close dialogue between an incubator such as GU Ventures and a company like Abigo is an important factor in strengthening the building of innovation activities and thereby creating better business contributing to increased benefits for the patient on a global level, says Jan G. Smith, co-founder and Chairman of Abigo Medical. He continues:
- We are growing rapidly worldwide with good profits and are reinvesting in the future, for example with a large number of new recruitments, the development of our own research and powerful expansion of our own production plant in Askersund. GU Ventures has new activities with new products which we, with our resources, can bring to market.
Abigo and GU Ventures will, within the strategic cooperation, work together with concrete pragmatic activities and measures in order for appropriate innovative projects to more quickly reach a commercially attractive level. The cooperation between Abigo Medical and GU Ventures aims to enhance the results of the respective company’s development of new medical device and pharmaceutical concepts.
- We see a lot of ideas for new products or processes, which can become commercial successes, continues Klementina Österberg, CEO of GU Ventures. As in all industries, it is necessary they satisfy a specific need and match this to what the industry or healthcare sector wants. Each project will require different kinds of support, they need to be in the right place and get the right set of skills and capital, in order to achieve commercial success. With the support of Abigo many of the ideas can reach this point more quickly and with greater certainty.
The new cooperation between Abigo Medical and GU Ventures has developed over several years, when the companies’ representatives worked together in different configurations. There is a solid trust and a common interest to support and benefit each other, which ensures that the collaboration will provide the important results required.
For more information please contact:
Abigo Medical: Jan G Smith, co-founder and Chairman, +46 31 748 497 32 Jan.G.Smith@abigo.se
GU Ventures: Klementina Österberg, CEO, +46 31 786 51 53, +46 70 440 11 90, firstname.lastname@example.org
Abigo Medical AB
Abigo Medical is a Swedish entrepreneurial pharmaceutical company that owns, develops, manufactures and markets pharmaceuticals and medical devices. Abigo Medical has a wide range of non-prescription and prescription drugs, as well as an assortment of medical products for advanced wound treatment and ear, nose and throat (ENT). In addition, food for special medical purposes is marketed. The company was founded in 1989 by the current owners, brothers Jan G. Smith and Leif Smith, who are both still actively involved in the corporate management. Today Abigo’s products are sold and used in over 60 countries, through its own sales organizations and partners. Abigo’s turnover exceeds 200 million SEK annually with very good profitability, which is reinvested in research and development. For more information, see www.abigo.se
GU Ventures is a Swedish state-owned holding company, whose business has been ranked among the top ten in Europe. Its mission is to start up, fund and with an active incubator support develop new business ideas and companies linked to the University of Gothenburg. The aim is to apply research through commercialization and to translate ideas into viable businesses, thereby creating new jobs and growth as well as to meet several of the major challenges in society. Together with innovators and co-investors, GU Ventures has, over the past 20 years, developed over 120 new ideas which employs over 300 people in about 90 limited liability companies with an annual sales of approximately 300 million SEK annually. GU Ventures sold several of the companies at a profit, and six of the companies are listed on various marketplaces. The portfolio currently consists of 50 holdings with a total value of 1 billion SEK. www.guventures.com