We at Grei Technology believe that there is a huge market potential in products for Womanhood, both within femtech and femhealth (female health). Digital products designed for women are on the rise and products for women are starting to be less and less tabu. The market of female health is also starting to get the attention it deserves and use of products will also increase the need and demand for more and other type of products.

The Grei Portfolio – companies for Womanhood

We are following some companies that we believe could be good financial investments. Some are companies that we have invested in, they are part of our Grei Portfolio. The criterias to reach our eye of interest is that the company is focusing on products for womanhood, meaning products designed for female use, or companies that are focusing on equality in a wider spectrum than just “women in the board” or companies founded and lead by women.

  • the company is focusing on products for womanhood, meaning products designed for female use

  • the company is focusing on equality in a wider spectrum than just being a “yes our board of directors is 50% female”

  • the company is founded and lead by women.

Peptonic Medical

Peptomic Medical is a Swedish company with the vision to offer safe and effective treatments for women suffering from vaginal atrophy (dry and sensitive vaginal mucous membrane) during menopause and after. The company develops products based on oxytocin, the body’s natural feelgood-hormone, instead of oestrogen. Using oestrogen during menopause can increase the risk of breast cancer, thrombosis, heart attacks and strokes.
Vagivital is a hormone free treatment already out on the market as a non-prescription product.
Vagitocin is their first candidate drug product. Vagitocin is is in clinical development phase 2, but is currently on hold.

The Peptonic Medical board of directors is 50% (2/4) men, management is 100% (2/2) men. There is only medical advisor and it’s a she.
The company acquired Lune Group Oy Ltd earlier this year. Lune adds products (menstrual cups and intimate hygiene products) and a global distribution network. This will increase their market and contribute to the growth of the company.

We believe that Peptonic Medical is an interesting company with potential to grow. They believe in Womanhood, providing products to improve the quality of life for women. They are currently aiming for the Chinese market and analysts believe that the market looks promising. They are also in the pipeline of releasing new products.
The stock price has been moving around 2 SEK, but is expected to reach 3 SEK in a short future, giving mainly blue (positive) numbers in the future.

Important happenings

Recently Peptonic received additional order of 106,000 units of VagiVital to China. Half of the order is to be delivered by the end of this year, and the balance during Q1 2021. Users of the products will participate in a large scale survey to collect user experience that can be used to support the marketing authorization application.

The clinical study with women women that have undergone cancer treatment (hormone dependent cancers) exited the study in June. The results are expected during Q3 2020.

Launch of intimate wash in Q1 2021.

Interim report Jan 2020 – Jun 2020.

Peptonic Medical AB is a part of our Grei Portfolio with companies focusing on products for the female market.

Spago Nanomedical

Spago Nanomedical is a Swedish company developing nanomedical products for cancer treatment and diagnostics. Their main products are SpagoPix and Tumorad.
SpagoPix is a contrast agent for MRI and Tumorad is a tumor selective radionuclide treatment.
The clinical studies of SpagoPix are focusing on breast cancer, the most common cancer in women world wide.

The Spago Nanomedical board of directors is 20% female (1 of 5), 50% of the management team are women (2/4) and 50% of the medical advisors are women.

We believe that Spago Nanomedical is a good investment. The current clinical trial has been postponed due to Covid-19, but with the previous results being positive, we see no reason of failure.

Spago Nanomedical is a part of our Grei Portfolio with companies focusing on products for the female market.

Invent Medic

Invent Medic Sweden AB logo

Invent Medic AB is a Swedish company developing and offering research-based products contributing to healthy every day life for women.
Efemia bladder support was launched in 2018. It is a product that helps women with stress urinary incontinence (SUI). The product has been launched in Sweden and can be bought online from the two largest pharmacy chains. Efemia is also available through distributors in Denmark, Norway, Germany and the UK. The company plans to launch Efemia on additional European markets in 2020 and thereafter in the United States.
The price for a start kit is pretty high, 1290 SEK, and the product needs to be replaced with a new one every three months.

The stock price is currently at 9,58 SEK and it has been moving up and down the past year, not reaching the price from 2018. The Efemia bladder support was launched in physical pharmacies in Sweden during spring/summer 2020 and we believe that the market is still to discover these type of products.
We know that urinary incontinence is a big problem for many women, specially after childbirth. We also know that getting help is difficult, surgery is very risky and even forbidden in many countries and that the topic is tabu. According to Invent Medic, Efemia is very well recommended by users.

The management team is 100% female, 7 of 7. The board of directors is 40% female (2/5).

“During the summer and onwards, we expect to see a positive effect from the inclusion of Efemia in 33 pharmacies belonging to the Apoteket AB group. This will make the product much more accessible in large parts of Sweden, especially for groups of women who do not tend to shop online.”


Important happenings

Publication of Interim Report Q2 – 2020-08-25

Application for market approval in the United States – during 2020 to get approval 2021.

Invent Medic AB is part of our Grei Portfolio with companies focusing on products for the female market.

Companies on our radar


Ellen AB is a Swedish biotech company founded in year 2000 developing and selling products to improve the female vaginal health. In 2003 the company was the first one launching a tampon treated with lactic acid bacteria. Their most known product is the probiotic tampon ellen. The bacteria, Lacto Naturel, that the company uses is both patent and trademarked.
We find the concept interesting, but we have not yet invested in it. This is since we aren’t sure of how the market feels about these products, we haven’t really seen the Big Bang even though it has been 17 years. Could be that the market is not ready, but it could also be that the market is more into other type of solutions to keep the vagina happy.

The management is 100% female (4/4) with all being pretty new to the company (CEO June 2019). Board of directors 50% (2/4).

Miris Holding – established 2001

Miris Holding AB is a Swedish company focusing on analysing breast milk to be able to give premature babies individually designed nutrition. They develop, produce, market and sell the Miris HMA – Human Milk Analyzer (HMA). The HMA is being used to analyse the nutrition of breast milk, making it possible to give a premature baby the right type of milk, improving neonatal health.
We have not yet invested in Miris Holding and the reason is that the price has had a negative curve and we haven’t seen any indicators of a turn up. Care of premature babies has already improved and we are not sure that the market of getting those last numbers of improvement will give Miris Holding a company value worth investing in. Current value (2020-08-17) is 0.032 SEK.

Board of Directors is 25% female (1/4). Management team is 100 % female, 4/4.


ObsteCare AB is a Swedish company developing medical solutions for safer child birth, both for the mother and the child. The AFL method monitors lactate in amniotic fluid, which indicates the status of the uterus. The uterus is a muscle and just like other muscles, the level of lactate indicates how “tired” the muscle is. By knowing the level of lactate in the uterus, the delivery can be planned and adapted to the uterus’s energy level.

The ObsteCare stock has been moving up and down, but has not reached the levels it once was on. We see huge potential in the area of child birth, but we also know that this area is something that is not getting a fair share of the hospital budgets. Understaffed maternity clinics and not enough resources is still something that needs to be addressed before we see the big investments of solutions offered by companies like ObsteCare and Miris Holding.
ObsteCare is most likely a good good long term investment, but we believe that there is no rush into investing (yet).

Forendo Pharma

Forendo Pharma Ltd is a Finnish clinical stage drug development company focusing on women’s health. Their lead product is a possible new treatment for endometriosis. They have strong investors, Karolinska Development being one of them (14%) and also strong collaboration partners such as Novartis.

Forendo Pharma is a company to keep an eye on, endometriosis being something up to 10% of women suffer from. Clinical trials take time and we will follow the development of Forendo Pharma. Investing in Forendo Pharma could be done via the Karolinska Development stock, which had a nice pek in the beginning of August, but is now back to 3.07 SEK.

Asarina Pharma

Asarina Pharma AB is a Swedish company focusing on developing new, safe therapies for severe menstrual-related and stress-related conditions still being widely untreated.
Their product Sepranolone, is the world’s first dedicated treatment for PMDD (Premenstrual dysphoric disorder), meaning migraine due to female hormones. The product is in clinical trial phase two and the result is expected at the end of 2020.

Gedea Biotech

Gedea’s ambition is to develop the first antibiotic-free treatment that both prevents and cures bacterial vaginosis. pHyph is a vaginal tablet that has been shown to have an excellent medical effect. Clinical study phase 2 for pHyph has been conducted, and the company is now aiming for CE-marking during 2020. CE-marking is an important step to be able to launch the product on the market.