Inura has been selected for the loan “100 fürs Baselbiet” from BLKB. We will receive a total of 500,000 CHF in two tranches.
“100 fürs Baselbiet” is an initiative that facilitates access to financial resources as well as advisory services for innovative SMEs and start-ups related to the Basel area. Some of the criteria are, among others, the innovative strength and sustainability of the ideas presented and the quality of the entrepreneurial team. Inura saw a perfect fit there and plans to add a lot of value into the region, therefore last semester we decided to apply for the program.
We have gone through a two-stage selection process. First, we submitted our business idea with the associated financial plan. After positive feedback, we had a pre-pitch and yesterday we pitched to an independent advisory board, which evaluated our application. This morning, the Advisory Board decided that Inura’s project will receive their support. Inura will receive a total of 500’000 CHF in two tranches. The first installment will entail 300’000 CHF, followed by 200’000 CHF as soon as we close our pre-series A round later this year. We are thoroughly happy we gained BLKB’s trust and support in our team and project!
At Inura Medical AG, we have an innovative urethral suppository for women with Overactive Bladder (OAB) Syndrome. This highly prevalent and disabling health disorder has a significant impact on 20% of the female population’s quality of life. For instance, sleep deprivation, fatigue, memory lapses, or embarrassment affect patient’s life. Unfortunately, around 70-90% of the patients discontinue the available treatments because of the side effects.
We are developing a patented design suppository that facilitates drug’s effective penetration through the urethral mucosal lining. This new route of administration has greater therapeutic efficacy, and there are fewer side effects. Moreover, our technology will reduce healthcare costs related to the treatment of OAB. Thanks to the approved loan from BLKB and with the help from HEMEX, Inura can continue with the development program, to compare the effects of the drug’s oral and urethral administration.
About “100 fürs Baselbiet”
The “100 fürs Baselbiet” purpose is based on strong collaborations between industry, science, and government. Their goal is to help SMEs and start-ups to expand their current clusters. Besides, this initiative intends to enhance the attractiveness and innovative capabilities, create jobs, and add economic value. “100 fürs Baselbiet” is an initiative organized by BLKB, the University of Applied Sciences Northwestern Switzerland FHNW, and the Baselland Economic Development Agency.
Inura Medical AG (“Inura”) is a Swiss start-up company with a clear vision to make a difference in women’s health. Inura’s product is an innovative, first-of-a-kind “urethral ovulum” that utilizes a novel route of drug administration to treat diseases of the bladder and lower urinary tract. Inura’s technology results from decades of work in urology by Professor Grant S. Mulholland, a renowned surgeon, academic, and past President of the American Urology Association. The first indication we are addressing with the ovulum is a chronic disease, named overactive bladder (OAB). More details on https://inuramedical.ch/.