Pharmaceutical company 3Z raises $400K seed round

3Z pharmaceuticals has closed a $400K seed round. The investors were Swiss biotech companies Baliopharm and Probiocon, as well as previous investors NSA Ventures and Sigþór Sigmarsson.

“3Z offers a unique technology to speed up the development of innovative drugs for the treatment of all kind of neurological disorders,” says Andreas Hermann of Baliopharm and Probiocon, who will join the company’s board of directors.

3Z pharmaceuticals is a contract research company focusing on the discovery of Central Nervous System (CNS) drugs. It provides pharmaceutical companies with expert services in high throughput screening of small molecule libraries for CNS effects diseases like epilepsy, Parkinson‘s disease, Insomnia and ALS.

Dr. Andreas Hermann and Dr. Karl Ægir Karlsson
Dr. Andreas Hermann and Dr. Karl Ægir Karlsson

The company was founded in 2008 by Karl Ægir Karlsson and Haraldur Þorsteinsson with support of Reykjavik University Resarch Lab. With the investment, the company aims at focusing on sales, as well as preparing for an A round.

“For 3Z this is a giant step towards bringing to market what we believe is an excellent solution for a large number of companies,” Karl says. “After years of R&D, proof-of-principle studies we are ready for take-off.”

Norðurskautið covers the Icelandic Startup and Tech scene. Follow us on Twitter or sign up for our mailing list to keep up to date. You can also join our Slack community –