Are you wondering what we are looking for? What your company can expect both before and after an investment? 
If so, 

If we see a good fit with our mandate we will start analyzing your company, solution or technology in depth. Our investment process involves detailed scrutinization of various elements of the proposed investment prospect. This  includes technology robustness, market relevance and potential value - and 

 A positive outcome of the in-depth analyses could potentially lead to an initial investment from Sarsia.

Sarsia take a long-term perspective when it comes to financing, and prospects are supported through progressive rounds of capitalisation.

A typical first round of investment will be on the order of 2-5 million NOK, for a 10% to 40% ownership stake. If we see ambition and dedication, a realistic development plan and a credible team combined with innovative research or technology, the total investment from Sarsia can, in time, reach 30–40 million NOK.

When we invest, we try our utmost to "get it right first time". This can only take place as a group effort between us and yout team. Working together, we map out a company's development plan, defining the company’s goals and creating a realistic plan for a profitable and sustainable business through a close, respectful collaboration with the company's management. We are active within the various companies in our portfolio, always retaining a position on the board. Our goal is to ensure best decisions being made on the path towards value inflecting milestones ultimately giving a profitable and sustainable business.

Approach

Sarsia will be present at the following life science venues: 

The Nordic Life Science Days 2024 Malmö, Sweden on 18-19 September at Malmömässan, Malmö, Sweden 

The LSX Nordic Congress 8th–9th October 2024, Bella Center, Copenhagen, Denmark 

https://informaconnect.com/lsx-nordic-congress/

Biofit 2024, December 3rd & 4th, 2024, Lille Grand Palais 1, Lille, France 

Please contact Farzad Abdi-Dezfuli (farzad.dezfuli@sarsia.com) to make an appointment. 

Meet with Sarsia 

Sarsia portfolio company Pluvia Biotech presents preclinical data showing efficacy, safety and broad applicability for the company’s lead compound PBAS499 at the Society for the Study of Inborn Errors of Metabolism (SSIEM) Annual Symposium 2024. Pluvia has developed small molecule pharmacological chaperones with the potential to stabilize the deficient PAH enzyme, the underlying cause of PKU. Based on extensive efficacy and safety studies, the company carefully selected PBAS499 as its lead compound for future clinical development. 

Pluvia Biotech Presents Preclinical Data at SSIEM Annual Symposium

Maija holds a Ph.D. in Cell Biology and a Master of Business Administration (MBA) and possesses over 15 years of extensive research experience, having worked in prominent institutions across the United States, France, Sweden, and Germany. Her expertise lies in the fields of technology transfer and innovation management.

Before joining Sarsia, Maija held the position of Assistant Director at a Eitri medical incubator in Bergen. In this capacity, she was responsible for overseeing and managing the flow of innovative projects emerging from various research environments.

"In my previous role, I was helping startups and inventors navigate through the earliest steps of technology commercialization. I am excited that in my new role at Sarsia, I will have even more impact as we can truly enable the most promising startups to succeed" , says Maja Slaidina.

Maija Slaidina joins the Sarsia team.

The event primarily focuses on our portfolio companies, allowing us to address common challenges across the portfolio. We also invite our extended network to join us to learn and share their insights on these topics.

In 2023, the main themes were inbound marketing, the digital customer journey, and product pricing.

In 2024, the focus shifted to operational KPIs and their role in fundraising, recruitment best practices, alongside the enduring topics of inbound marketing and the customer journey.


Highlights from the event:
- 14 portfolio companies presenting their progress
- 8 insightful presentations covering topics from fundraising strategies to recruitment best practices
- 4 founders sharing methods to conquer their markets and increase growth.
- A gathering of nearly 100 attendees at restaurant Ostra, fostering invaluable discussions and connections
 
Thank you to everyone who joined us for making Sarsia's Portfolio Day 2024 a success! 

Highlights from Sarsia Portfolio Day 2024

The European Commission grants ODD to products that treat a life-threatening or chronically debilitating condition affecting no more than 5 in 10,000 people in the EU and where no satisfactory treatment is available. Products receiving Orphan Drug Designation are eligible to receive market exclusivity for a period of up to 10 years in the EU upon approval, as well as eligibility for protocol assistance, reduced fees and access to the EU's centralized marketing authorization procedure. PKU affects between 1 to 2 in 10,000 in the EU, which amounts to 45,000 to 90,000 EU citizens.

Pluvia Receives European Orphan Drug Designation

Cetasol, an innovative technology company dedicated to improve energy efficiency in the maritime industry, has successfully closed a seed round of €2M. The new funding by Sarsia (Norway), ShipsFocus (Singapore), and Impact X Capital (United Kingdom) will enable Cetasol to expand its market reach and enhance its innovative product offerings.

Sarsia invests in maritime green-tech company Cetasol 

WILD will organize events, workshops, and discussions, all aimed at addressing gender disparities, identifying challenges, and fostering collaboration. In addition, the team is committed to influencing the political agenda to promote health, sustainability, and gender equality, advocating for women's advancement based on merit and expertise.

Chelsea Ranger: Founder & Chairwoman of WiLD Norway; Founder of Kampen Pride and C. Ranger Consulting; Investor Relations & Business Development for The Life ScienceCluster, EIRA Incubator, and RAB Diagnostics; Project Coordinator in SPARK Norway

- Cathy Capdeville: Vice Chair of WiLD Norway, Public Afairs Director for Melanor/NHO Geneo

- Charlotte Berg-Svendsen: Former CCO Pre Diagnostics AS and GM Global Omega 3 at BASF, former General Counsel VP & Legal IP at Pronova Biopharma (now BASF)

- Ole Dahlberg: CEO of Curida / Curida Diatec, former VP/GM Thermo Fisher Scientific Cell Biology Division

- Gunnveig Grødeland: Senior Researcher & Group Leader in Influenza and Adaptive Immunity, Department of Immunology, Institute of Clinical Medicine, UiO and Oslo University Hospital

- Agnete Fredriksen: Co-Founder and Chief Business Oficer at Nykode Therapeutics,

- Morten Egeberg: Leader of SPARK Norway at University of Oslo (UiO) 

Sarsia is proud sponsor of WILD - Women in Life Science Norway

The new company will combine expertise in the field of innate immunity, based on damage-associated molecular patterns (DAMPs), with a pipeline of selective antibodies that target inflammatory and fibrotic indications, including several first-in-class clinical candidates. 

Calluna has four promising therapies in its pipeline. Its clinical stage lead program, CAL101, is a monoclonal antibody that neutralizes the bioactivity of S100A4, a DAMP protein implicated in serious and life-threatening diseases such as idiopathic pulmonary fibrosis, chronic kidney disease, systemic sclerosis, rheumatoid arthritis, and severe (steroid insensitive) asthma. Of particular interest is another of its programs, CAL102, a monoclonal antibody neutralizing oxidized phospholipids – these play a significant role in onset and progression of a wide range of acute and chronic inflammatory and fibrotic diseases. CAL102 demonstrated efficacy in several preclinical disease models.

Arxx merges with Oxitope and raises EUR 75 million in a Series A 

Willem van Weperen comes to the company with an extensive background in rare disease development and commercialization. In his early career this included several roles in Genzyme, where the rare disease business model was pioneered. Subsequently, Willem was several years CEO of early-stage CNS company to-BBB, which was followed by senior commercial leadership roles at rare disease companies Prosensa, Amicus (a leader in pharmacological chaperone therapy), Myokardia and most recently Intercept. Willem holds a MSc in Biomedical Sciences from Utrecht University and an MBA from Bradford University.

Read more here: https://pluviabiotech.com/wp-content/uploads/2023/10/Press-release-Pluvia-progress-CEO-4Oct2023.pdf

Pluvia Biotech appoints Willem van Weperen as new CEO

First up is LSX Nordic Congress in Copenhagen 10-11 October, the leading senior executive strategy, investment and partnering conference for the Nordic region for biotech, medtech and healthtech. Farzad will be a panel member in the Biotech Leaders Plenary Session looking into resources needed to help biotechs grow in the Nordics.

https://www.lsxleaders.com/lsx-nordic-congress



Later this year he will be attending MedFit 2023 in Marseille (12-13 December) where he will share his experiences related to biotech start-up governance and good foundation for growth. BiFIT is the leading European partnering event for for early-stage life science innovations stemming from public research institutions, academic spin-offs and emerging biotech companies. 

Meet us at LSX Nordic and BioFIT this fall 

Henrik has 30 years experience with commercialization, financing, financial restructuring, mergers & acquisitions. The last years before joining Sarsia, he worked with commercialising results from research, and from his positions as CFO of NORCE and TTS and as partner with EY, he has led professional teams in Norway and European and Asian countries. He has a deep understanding of corporate management, financial management and control, corporate legal requirements, and transactions.

Henrik Solberg-Johansen joins the Sarsia team

, announces that the first cohort of healthy volunteers have successfully been dosed with AX-202 – a first-in-class anti-S100A4 monoclonal antibody (mAb). The trial is led by Professor David Singh at the Medicines Evaluation Unit in Manchester, UK.

The double-blind, placebo-controlled trial aims to establish the safety and tolerability of AX-202 and is expected to enroll a total of 40 healthy volunteers and 18 patients with mild to moderate psoriasis. Trial results are expected in 2024, aiming to support the initiation of a clinical program in patients with systemic sclerosis.

Systemic sclerosis is a rare, life-threatening disease characterized by progressive fibrosis involving the skin and internal organs. Current treatment options are limited and new disease-modifying therapies are needed to improve and extend the lives of systemic sclerosis patients.

Arxx Therapeutics initiates first-in-human trial

Until September 1, Sveinung will hold the position of Senior Partner in the company and mainly work on activities related to raising a new medical investment fund, Sarsia Fund IV.

Current Managing Partner, Erlend Skagseth, will transition to the position of Senior Partner from September 1 and continue to work with Sarsia's portfolio companies, with a special focus on preparations and execution of divestment processes.

Sveinung Hole comes from the position of CEO of Trond Mohn Foundation and Kristian Gerhard Jebsen Foundation. Trond Mohn Foundation has been a significant supporter of Sarsia Funds for many years and is the Funds' third-largest investor. Prior to this, Sveinung was a co-founder and Managing Partner of Sarsia Management from 2007 to 2016 and is thus familiar with the business. Sveinung has been on the board of Sarsia Seed Fund I and chairman of the board of Sarsia Seed Fund II since 2016.

Sveinung has an extensive network within Norwegian private equity, the Norwegian healthcare industry, and Norwegian business and society. From 2019-2021 he led "HelseOmsorg21 Rådet" appointed by the Minister of Health. He has been on the board of Health Bergen HF, the Norwegian Venture Capital Association, and has extensive board experience from listed and privately owned companies, investment funds, and various public positions.

"We must continue to create profitable growth companies based on Norwegian technology. Sarsia is a fantastically competent investment environment built up over 17 years, and among the most profitable early-stage venture investors in the Nordic region over the last 20 years. It is great to have the chance to lead Sarsia for another stage," says Sveinung Hole.

"We are delighted to have Sveinung back on the team; he has the experience and all the qualities needed to lead Sarsia Management and Fund to the next level. Welcome Sveinung!" says Erlend Skagseth.

Sveinung Hole to become new CEO in Sarsia

Cochlear Limited, the global leader in implantable hearing solutions, has signed a deal to explore compatibility of the OculAudio ® smart multiple microphone beamforming technology in combination with Cochlear’s latest generation sound processors.

The collaboration aims to test performance of the OculAudio ® eyeglass-based system as part of an implantable hearing solution with potential to provide Cochlear’s implant recipients with a unique external accessory designed to enhance hearing in noisy environments.

The development program will be funded jointly by

OculAudio ® Corti AS, and Cochlear Limited and Cochlear has made their first investment in Oculaudio® Corti AS.

We are intrigued to enter this collaboration with world leader Cochlear which has the potential to develop a new and even better hearing experience for users of cochlear implants”, says Tom Austad, CEO of OculAudio ® Corti AS.

OculAudio signs deal with hearing implant giant

The BoD of Swedish company Coegin Pharma AB (COEGIN:Nordic GM) has decided to raise 25,3 mSEK through a combination of a preferential rights issue and a new issue. The funds will be used for further strategic development of several projects in Coegin's portfolio of subsidiary companies.

Coegin Pharma raises 25 mSEK

The American biotech company Rallybio (NASDAQ:RLYB) yesterday published data from animal studies confirming potential prophylactic potential of a hyperimmune-based concept for prevention of the rare condition FNAIT i newborns. The concept is based on research from UNN/UiT and further developed by Sarsia portfolio company Prophylix Pharma

Rallybio publishes promising results with technology aquired from Prophylix Pharma

Nykode Therapeutics ASA today announced that it has entered into a clinical collaboration and supply agreement with MSD, to evaluate Nykode’s wholly-owned lead candidate, VB10.16, in combination with MSD’s anti-PD-1 therapy KEYTRUDA® (pembrolizumab) in a Phase 1/2a trial in patients with HPV16-positive head and neck cancer.

Nykode Therapeutics announces clinical collaboration with MSD 

In a joint project between the two companies, 

 will instrument multiple important power lines with the neurons from Heimdall Power. The lines in question are leading into an industry park, which is requesting increased load to enable the establishment of a green hydrogen production plant.

The existing, conservative, models currently indicate that there is not enough capacity to meet the increased load that’s required. This is now going to change, as the neurons from Heimdall Power will provide insight into the true capacity in this part of the grid. The dynamic capacity can then be utilized, with the production of green hydrogen as a flexible load.

Heimdall Power partners with Lede to enable green hydrogen production

The company, currently conducting a phase I/II trial with lead candidate AVX001 in actinic keratosis and preclinical development of AVX420 in leukemia and chronic kidney diseaese. Through the merger Coegin strengthens its drug development portfolio by putting strong focus on diabetes complications.

Coegin Pharma merges with Follicum

BerGenBio announces the the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation for bemcentinib in combination with and anti-PD-(L)1 agent for the treatment of patients with AXL-positive advanced/metastatic non-small cell lung cancer (NSCLC).

Bergenbio receives FDA fast track designation for bemcentinib

The study will be initiated and conducted by a top Key Opinion Leader in a prominent health care institution and sarcoma research clinical center in the United States. The clinical study, which will be supported by the Company, is scheduled to start in Q3 2021. First efficacy data are expected in the second half of 2022.

APIM Therapeutics completes private placement and enters phase-2

The trial will be conducted in Australia, South Korea and Taiwan.

APIM Therapeutics announces IND for ATX-101 in Ovarian Cancer

Arxx Therapeutics secures NOK110

Saga Pure will hold 16,5 percent of the company following the transaction, and will be appointed to the Board of Directors.

– Heimdall Power is an extremely exciting technology company with proprietary smart grid solutions that help grid companies digitalize their power grids and improve operations. 

– The electric grid is the worlds’ largest man-made machine, spanning the entire globe. It’s also an essential infrastructure to enable a sustainable, green energy transition. However, the grid needs to become smarter and more digital like everything else. It needs an upgrade to prepare for a new energy future. Heimdall has a proven technology which combines state-of-the-art sensors with artificial intelligence to ensure optimized grid performance. We look forward to supporting the company in the upcoming growth and expansion phase,» says Bjørn Simonsen, CEO of Saga Pure.

Existing owners will also participate in the capital increase. Investinor enters with 30 mNOK. Sarsia, BKK Spring, Lyse Vekst and Hafslund Ny Energy contribute a total of NOK 20 million, equally distributed.

– This transaction confirms the potential we saw in Heimdall Power when we invested in the company right after the start-up, says Jon Berg, partner in Sarsia.

Heimdall Power raises NOK 155 mill

Fresh water is added as part of the feeding process by means of a vacuum-system. The technology is currently being verified in several fish breeding plants, and will potentially increase efficiency and reduce the need for specialized fish feed.

Seafarm Solutions AS

CD47 is a well-validated target - over expressed across many cancer types – solid and hematological

CD47 over expression correlates with poor progression free survival and overall survival prognosis

Addresses on cology opportunities with significant unmet medical needs.

Breast, Lung, Prostate, Bladder, Cervical, Colo-rectal, Head & Neck, Melanoma, Glioblastoma, Lymphoma, Acute, LymphoblasticLeukemia, , Acute, MyeloidLeukemia

Caedo Oncology

The company is now represented outside Norway within the UK, Sweden, US, Ireland and France focusing on its Mole Scanning Service.

ScreenCancer AS

Increases asset utilization and makes sea logistics strategically more relevant, with cargo owners and fright forwarders the primary beneficiaries.

Facilitates transport of cargo in smaller consignments and with greater scheduling flexibility, without increasing overall transportation costs.

Improves communication and transparency between companies in the transportation chain.

Aims to reduce systemic waste allowing lower freight prices for the industry and increased profitability for ship operator.

Aims to reduce emissions by increasing efficiency, ship utilization and reducing ballast runs, as well as providing the cargo owners with tools to choose the most energy efficient routes/ships available.

Keelspot

SERCA Pharmaceuticals AS develops a therapeutic agent for the restriction of IRI based on a new therapeutic strategy. The small molecule candidate acts in a cardioprotective manner to restrict IRI during reperfusion after acute myocardial infarction.

SERCA Pharmaceuticals

Sea-Hawk Navigation AS has developed a revolutionary new radar technology with a performance that defines a new standard in the radar industry. Sea-Hawk’s radar technology delivers a clear and reliable overview of all the objects on the surface even under difficult weather conditions. The system can detect both sea surface and persons in the water even in rough seas and heavy rain. Sea-Hawk can also detect very small objects at high speed and can therefore improve warning capabilities to a new level where it can be relied upon as a real-time monitoring.

Sea-Hawk Navigation AS

The Sailbuoy offers the capabilities of an unmanned surface vehicle which can be used as a new generation system for in-situ near-surface data collection at sea.

Field proven to stay for months at sea, it navigates the oceans autonomously, using only wind power for propulsion and sun power for electronics - transmitting back data at regular intervals. It can be used for a wide variety of ocean applications. From measuring ocean and atmospheric parameters to tracking oil spills or acting as a communication relay station for subsea instrumentation.

Long endurance - capable of navigating for several months at sea

Modular payload accommodating a large variety of sensors

User friendly in deployment, recovery and control

Presents little risk to exiting installations and vessels

Offshore Sensing AS was established in 2014 as a spin-off from Christian Michelsen Research. The technology was developed at CMR since 2005 and is now available as a commercial product.

Offshore sensing 

The drug targets the PCNA/APIM stress switch, a novel intervention point controlling cellular stress responses (e.g. DNA Damage Response). The approach is based on research from the University of Science and Technology, NTNU, Trondheim, and allows for the potentiation of the action of >25 clinical drugs across multiple cancer indications. ATX-101, the company’s current lead, has shown strong preclinical proof-of-efficacy in preclinical models of bladder, breast, multiple myeloma, AML and prostate cancer in combination with several anti-cancer drugs.

APIM Therapeutics AS

The company is a world leader in the use of tools based on Computational Fluid Dynamics (CFD) for wind energy and has over the years established a strong client base including the leading actors in wind power technology. Windsim’s products and technology directly increases the client’s energy production and profits, which explains why it has become one of the central technologies in development and monitoring of wind turbine parks.

Windsim AS

Through our operations and research and engineering, we aim at developing products, services and solutions that optimize performance and reduce cost.

Soiltech

Nykode is a leader in the rapidly developing field of individualized cancer neoantigen vaccines and is using the Nykode technology to generate best-in-class therapeutics to treat cancers with a high unmet medical need. Nykodes front runner program (VB10.16) is a therapeutic DNA vaccine against HPV16 induced pre-malignancies and malignancies.

Nykode

The most common inborn metabolic failure: Incorrect folding of PAH enzyme which results in insufficient phenylalanine degradation. Untreated, this can cause severe brain damage. The condition has been screened by a simple blood test at birth since 1967. Approximately 50,000 are diagnosed with the condition in the western world. Pluvia is addressing a substantial unmet medical need in a vulnerable patient group with very limited alternative options. The company is working with a novel target with the potential to help a large subset of patients, as stand-alone and add-on therapy.

Pluvia

The technology enables flow and fraction metering to be installed on standard process piping without any disturbance to the process. The meters has the accuracy and functionality characterizing in-line flow meters combined with the low cost and mechanical integrity obtained by clamp-on installation. This will reduce the cost of installation of such a meter with more than 90%. One of the first pilot installations is on fuel lines of ships to enable increased fuel control, more efficient operation and less use of fuel and reduced release of greenhouse gasses.

Xsens AS

Knowledge about where the fish are and conditions at different depths gives an unique insight in production. SeaSmarts patented wireless drone measures a complete profile of the cage ever hour, 24/7 for six months on a single battery. Just put it in the cage – it’s that simple.

SeaSmart

The Platform offers full transparency on bid-offer spreads and deals done. The Elcert contracts are cleared via Nasdaq Commodities. GOs are traded in EUR, CHF, DKK, GBP, NOK, SEK.

Green Power Hub

The fluid developed by SonoClear® has acoustic properties similar to brain tissue. This simple property, simulating the damping of acoustic waves in brain tissue, allows SonoClear to effectively eliminate image artifacts in resection cavities. At the final part of the operation when the image quality is most important SonoClear removes uncertainties and enhances the ultrasound image quality so that surgeons can trust the images they see and make better decisions.

SonoClear

Trisense delivers Monitoring-as-a-Service for process plants, with a particular focus on predicting corrosion under insulation (CUI). The technology is certified at the highest TRL level, and ready for full-scale rollout. The battery life of the ex-certified sensors is 15 years+, and they communicate wirelessly with 4G/5G so there is no need for additional infrastructure. In addition, they have a simple and patented attachment that makes installation significantly less expensive than other solutions. 

The value creation if you can postpone costly process plant maintenance through monitoring of corrosion is huge , and correspondingly the enviromental and climate effect is substantial due to both fewer dangerous incidents and also kilometers of pipes and insulation that you do not have to discard at each plant.

Trisense AS

Zooms in on the voice the user wants to hear – «hear what you see».

Use wireless transmittion of high quality sound (ear buds).

OculAudio

The instrument uses changes in skin conductivity as an indicator of perceived pain. Such pain measurements are relevant in medical treatment of humans under anaesthesia, for post-operative monitoring, for the prematurely born and for those with chronic pain. It is similarly applicable in veterinary medicine. The product is fully developed and commercially available.

Medstorm Innovation AS

Ranked as #1 of all (100) electricity retailers by the customers at Bytt.no 

PDS2 payment license which opens for new services and simplicity

One of the fastest growing power suppliers in the Norwegian market

Elekt and Strømpriser app can be used, independent of power supplier, to easily master and optimize electricity usage and cost

Elekt

NAIT is caused by tissue incompatibility between a mother and her child and causes severe illness and often mortality in newborns. The planned treatment will be administered as a single dose injection to the mother immediately after delivery and the treatment has the potential to prevent development of NAIT in subsequent pregnancies. The technological basis of Prophylix Pharma comes from research at The University Hospital of North Norway and Ullevål University Hospital. Sarsia Seed is invested in Prophylix Pharma AS through a co-investment with the seed fund Norinnova Invest AS and Trond Mohn Foundation.

Prophylix Pharma assets were medio 2019 acquired by RallyBio Inc, a special purpose US Pharma company for the development of drugs targeting rare diseases, teamed up with an excellent and experienced team of managers and drug developers, and financed with 145 m$ by Pivotal bioVenture Partners, Viking Global Investors , TPG Capital, F-Prime Capital, Tekla Capital Management, Solasta Ventures, Fairview Capital, Mitsui & Co., 5AM Ventures, Canaan Partners, New Leaf Venture Partners and Connecticut Innovations. RallyBio expects to be entering clincal trials in Germany late 2020.

Details regarding deal financials will not be disclosed, however under the terms of the agreement, Prophylix has received an upfront payment, is eligible for development milestones, a percentage of the value of a PRV(Priority Review Voucher), and single to low double digit tiered royalties on a substantial sales volume.

Prophylix Pharma AS

Flow Computing is a pioneering startup based in Helsinki, Finland enabling the next generation of energy efficient CPU performance for the most demanding applications, such as locally-hosted AI and general-purpose parallel computing. Capable of being integrated into any current or pending design architecture or process geometry, Flow provides a revolutionary acceleration that is usable in standard products to enable “CPU 2.0”-levels of throughput and eliminating the need for expensive GPU acceleration of CPU instructions.

This revolutionary performance leap is achieved using the company’s patented Parallel Processing Unit (PPU) licensable architecture and compiler ecosystem - enabling developers to choose their preferred ratio of raw performance for new apps vs. maintaining legacy code and application compatibility when required. Flow's groundbreaking architecture also turbocharges embedded systems and data centers, for uses such as edge and cloud computing, AI clouds, multimedia codecs across 5G/6G, autonomous vehicle systems, military-grade computing and more.

Participants in Flow’s pre-seed round in addition to Sarsia include Butterfly Ventures (lead VC - Finland), FOV Ventures (Finland/UK), Stephen Industries (Finland), and Superhero Capital (Finland). Flow Computer has been part of VTT LaunchPad, a science-based spin-off incubator in Finland, and was founded by Timo Valtonen (CEO), Dr. Martti Forsell (CTO) and Jussi Roivainen.

Flow Computing

Qbee.io provides a simple, secure and scalable IoT device management solution that any team can implement quickly. Qbee is a complete fleet management enabling remote access, over-the-air updates, automatic configuration, security and more. By using qbee, companies can expect huge cost-savings in reducing time-to-market, competence needs, operational costs and security risks.

Qbee

The Heimdall Sensor platform an analytics allows utilities to monitor physical parameters of live high voltage powerlines. This enables control of the grid and high value analytics. Heimdall Power enabled dynamic line rating may increase the capacity of power lines of up to 60% with no further investment.

Heimdall Power AS

The output from PaCRTool-system can be used as a biomarker with the ability to improve the clinical outcome in heart failure patients​

Pacertool

Calluna Pharma is developing first-in-class therapies designed to defeat chronic inflammation and fibrosis at the source. Calluna's innovative therapeutic approach targets upstream amplifiers of disease offering potential applicability across a diverse array of medical conditions. Calluna Pharma is a clinical stage company driven by a commitment to improve patient outcomes in areas where existing treatments are sub-optimal.

Calluna Pharma

Coegin Pharma AS develops a new therapeutic approach to modulate cPLA levels in patients with certain forms of cancer and Chronic Kidney Disease.

Coegin pharma

Cetasol’s iHelm solution delivers energy reduction of 10-25%.

The solution offers unique data-based digital twin modeling of vessels

Maritime sustainability is more relevant than ever, with operations needing to consider this to future-proof their operations. Given the tightening regulatory landscape and increasingly ambitious IMO an EU objectives, optimizing energy utilization becomes imperative.

Cetasol was founded to resolve these problems. Ethan Faghani, Cetasol’s founder, previously held the position of Chief Engineer of AI and automation at Volvo Penta. Identifying fluctuations attributable to human factors, he realized that by mitigating these variances, fuel savings of 10-25% were attainable. The intelligent decision support platform iHelm was born, and given its brand-independent nature, Cetasol emerged as an independent startup in 2020.

Cetasol

Enua Charge is a detachable EV charger that can be connected to any wall mount from Enua. This gives end-users the ability to charge where they want, for example at the cabin, in the garage, at work or on the house wall. 

This way users can build charging infrastructure that suit their needs regardless if they are charging in private homes, multi dwelling housing or in the work place.

The charger is very easy to install, saving time for installers.

Enua 

The Company is a world leader in understanding the essential role of AXL kinase in mediating aggressive disease, including immune evasive, drug resistant, metastatic solid and haematological cancers. BerGenBio’s lead product, bemcentinib (BGB324), is a selective, potent and orally bio-available small molecule AXL inhibitor in several company-sponsored Phase II clinical trials in major cancer indications, including numerous investigator-sponsored trials. Bemcentinib is currently the only selective AXL inhibitor in clinical development. BerGenBio is also developing a companion diagnostic test to identify patient subpopulations most likely to benefit from treatment with bemcentinib. The company is also developing a diversified pre-clinical pipeline of drug candidates, including BGB149, an anti-AXL monoclonal antibody.

BerGenBio ASA

Read the latest updates on our investments

Top performance among Norwegian Early Stage Venture funds

Two of the most valuable early stage venture backed companies in Norway. 

Theories, hypotheses and research are rooted in ambition. Clear goals, systematic hard work and dedication create results. Sarsia focus on technologies that can improve the quality of life, society and reduce negative impact on nature. Sarsia creates value by linking good solutions and science with competent capital. We thrive on change, and dare to take risks to create value. This has made us one of the best performing VC firms in the Nordic countries.

Are you wondering how we work with Sustainability? What your company can expect both before and after an investment? If so, 

Sustainability is not always straighforward. It requires an understanding of how the world around you influences – and will influence – your business, but also an understanding of how your business will influence the world around you, today and in the future. And how you can use this to achieve robust profitability, both financially and in terms of sustainability.

We are looking for companies that take sustainability seriously. That want to contribute to change, and that are prepared to work hard and methodically with us, to attain both great change and positive impacts.

Consideration of sustainability is embedded in our investment process and in our follow up of our portfolio companies. Read more about how we work and our approach to SFDR in the file below.

Sustainability

We are academics, engineers, optimists and realists. Our people consist of professionals with backgrounds from academia (at doctorate level) and industry (board and senior management level), from a diverse array of fields including economics, biology, physics, oceanography, technology, pharmacology and therapeutics. Our experience spans technology transfer to environmental protection. No matter who you meet, you will discover that experience, patience, curiosity and realism are fundamental to our operations. 

Investment areas

News

Portfolio

Approach

Reliability is at the core of what we do

Team

Background in science, experience from industry

Investment areas

Life Sciences

Technology, Energy and Sustainability

A talent for value creation begins with the will to dare the unknown

Sustainability

It’s all about moving the planet forward

Latest news

Meet with Sarsia

Pluvia Biotech Presents Preclinical Data at SSIEM Annual Symposium

Maija Slaidina joins the Sarsia team.