Finnish company Hermo Pharma attracts EUR 1.2 million in venture capital

Hermo Pharma is developing treatments for amblyopia, Parkinson’s disease and Alzheimer’s disease.

Hermo Pharma’s research focus is on neurodegenerative diseases and the modulation of neuronal plasticity. It aims to develop novel disease-modifying treatments for amblyopia, Parkinson’s disease and Alzheimer’s disease.

Lahdenperä says that there is a new generation of biotechnology companies in Finland which understand the importance of commercialization and international networks better than their predecessors. Established in 2008, Hermo Pharma has quickly built up networks with its future clients, the giants of the pharmaceutical industry.

Hermo Pharma Ltd. operates according to the ‘virtual business model’, outsourcing the majority of business functions outside its core business areas, while controlling the key technology assets and strategic partnerships with a small but highly capable group of people. According to Hermo Pharma, the company’s overheads are kept lower than traditional biopharmaceutical companies so much more of its financial resources can be utilised directly to achieve business goals. Enterprise Finland Venture Forum selected Hermo Pharma as one of the 30 most promising Finnish growth companies in 2011.