Paindrainer AB selected for the groundbreaking 10XHEALTH Scaleup Program with a focus to accelerate growth in Swedish Life Science companies
MEDICON VILLAGE, LUND, SWEDEN – Paindrainer AB, a pioneer in digital medical device solutions for chronic pain, is proud to announce to been selected as one of seven prestigious participants in the inaugural 10XHEALTH program, a collaborative initiative by SmiLe Incubator and Medicon Village. The program is set to be launched in January 2024, with the aim of propelling established life science companies in Southern Sweden toward accelerated international growth.
Paindrainer® is the first evidence based digital tool demonstrating improved quality of life in patients suffering from chronic pain. The solution is powered by leveraging advanced algorithms and is fully adaptive to each individual patient, a unique feature we call the 360o patient-centricity©. Paindrainer PD1 is an FDA registered Class I Medical Device and has recently signed its first commercial agreement with a pain clinic in the United States.
“I am very pleased about the timing of our nomination, coinciding with Paindrainer's global expansion and its first commercial launch in the US. This marks a significant milestone for us, and the support from the 10XHEALTH program is set to amplify our international growth and impact in the life science industry.", says Erik Frick CEO Paindrainer AB.
For almost 16 years, SmiLe Incubator has been running a program for life science startups. In close collaboration with Medicon Village, these activities are now expanding with the scaleup program to assist established innovative companies in taking the next step towards a faster and stronger market impact.
"With 10XHEALTH, we're expanding and improving our support for both our alumni and other established life science companies in southern Sweden's growth phase.”, says Ebba Fåhraeus, CEO Smile Incubator.
Peter Hartman, CEO of Medicon Village Innovation, emphasized the initiative's importance in strengthening the region's position as one of the most dynamic and expansive in life science in Sweden. "10XHEALTH Program is intended to contribute to our ability to attract and retain successful companies here as role models for the life science sector," he said.
The 10XHEALTH program is partly funded by the European Regional Development Fund.
For more information, please contact:
Erik Frick
CEO Paindrainer
erik.frick@paindrainer.com
+46 736 61 21 23
Paindrainer AB is a company developing digital platforms and applications contributing to health and well-being. Paindrainer was founded in 2018 by Prof. Carl Borrebaeck, Dr. Maria Rosén Klement, and Göran Barkfors. The idea was born when Maria, after participating in several pain rehabilitation programs, realized that pain is affected by many more factors than the human brain can comprehend.
Paindrainer® is the first evidence-based AI powered digital tool demonstrating improved quality of life in patients suffering from chronic pain. The digital tool coaches the users in managing their pain and planning their day not to exceed a certain pain level, and to ensure that there is enough energy left for highly valued activities. The solution is powered by leveraging advanced algorithms and is fully adaptive to each patient, a feature called 360o patient-centricity©.
Paindrainer® (Paindrainer PD1) is an FDA registered Medical Device Class 1 (510k exemption), MDR compliant and CE certified. www.paindrainer.com
SmiLe Incubator is a venture builder enabling entrepreneurs to develop and commercialize their life science innovations. Based in Lund, Sweden, SmiLe offers expertise, business coaching, a broad international industry and investor network as well as a unique laboratory infrastructure with state-of-the art instrumentation. Since the start, SmiLe has helped more than 100 entrepreneurs commercialize their business ideas. Currently there are some 30 companies in SmiLe incubator which,
together with alumni companies, have attracted more than EUR 805 million in venture capital since 2014. To date, 21 of SmiLe´s companies have launched an IPO. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Høiberg, Magle Chemoswed, Merck, Setterwalls, Zacco, Phase Holographic Imaging and ChemoMetec. www.smileincubator.life
Medicon Village life science park is the natural hub for research and business dedicated to life science in Southern Sweden. By facilita6ng cross-border collaborations, conditions are created for medical advancements to provide more people with a healthier and more prosperous life. At Medicon Village, founded in 2012, over 2,800 individuals work in more than 180 companies and organizations. The property operations are managed by Medicon Village Fastighets AB, and the innovation activities are overseen by Medicon Village Innovation AB. Both companies are wholly owned by the "Mats Paulsson Foundation for Research, Innovation, and Societal Development". www.mediconvillage.se