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

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 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

Such prognoses enables owners and operators of windmill parks to forecast and file expected production with their Transmission System Operators. In Europe producers of wind power face 5-10 % reduced income due to discrepancies between forecasted production and de facto production. Better prognoses may potentially reduce such losses.

Aquiloz

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

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

Norways largest independent charge point operator for multi dwelling homes•Manages multiple, connected charge points​, supports end user ​and match user with usage​, invoices user based on the actual energy price​. •Charging technology neutral

Movel

The company aims to advance a novel antifibrotic therapy to modify disease progression, and in some cases, potentially reverse the fibrotic damage to tissue. The therapeutic approach also holds promise as a therapeutic in specific cancers which currently are resistant to conventional as well as immunemodulating anticancer treatments.

Arxx Therapeutics

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

Delante’s proprietary technology enables combination of fat-soluble and water-soluble nutrients in the same food supplement product. LipidFizzTM, Delante’s main product allows addition ow water-soilluble vitamins to omega-3 based products in an appealing an consumer-friendly format and with enhanced bioavailability compared to existing products.

Delante Health

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

Coegin Pharma raises 25 mSEK

Rallybio publishes promising results with technology aquired from Prophylix Pharma

Nykode Therapeutics announces clinical collaboration with MSD