Norrsken VC raises five million euros for healthtech Biorce S.A.

Cuatrecasas has advised Norrsken VC on negotiating and executing a convertible investment worth five million euros in Biorce S.A. to enable the healthtech company to grow in the US, expand its technology and sales teams, accelerate product development and increase revenue.

Norrsken VC is the venture capital (VC) arm of Norrsken, an impact foundation created in 2017 in Sweden. Currently, it manages the largest impact fund in Europe, focused on investing in early-stage startups. Biorce S.A., on the other hand, is a Portuguese startup with strong presence in Spain, using artificial intelligence to revolutionize clinical trials and speed up new treatments for patients.

The Cuatrecasas team was led by Vasco Bivar de Azevedo, a corporate and M&A lawyer specialized in VC, and included Pedro Sousa Gonçalves, also specialized in VC, Carolina Nogueira Martins, Manuel Ximenez, and Manuel Abecasis, all from the same practice area.

"Convertible instruments are increasingly used by investors in startups with high growth potential but that have not yet achieved desired metrics, particularly in terms of sustainable sales volumes. These instruments allow for the quick provision of the necessary funds to achieve those goals," says Vasco Bivar de Azevedo.