
Large shareholders discuss their increased holdings in Chordate Medical
Last week, Chordate Medical announced that two major shareholders, Isac Brandberg AB and related parties and Jinderman & Partners AB, have increased their shareholding in the company. This is a clear sign of the two shareholders’ confidence in Chordate Medical and the company’s treatment for chronic nasal congestion and chronic migraine. BioStock contacted representatives from Isac Brandberg AB and Jinderman & Partners to hear more about their expectations on Chordate Medical and why they have chosen to increase their holdings in the company.
Medtech company Chordate Medical has developed a treatment method, Kinetic Oscillation Stimulation (K.O.S), which with the help of nerve stimulation treats chronic nasal congestion (rhinitis) and potentially also chronic migraine.
The treatment’s effect on chronic migraine is currently being evaluated in a clinical study in patients with migraine in Finland and Germany. The migraine study has been paused during the pandemic but has been resumed now that the healthcare staff at the Finnish study clinics have been vaccinated against Covid-19. Read more here. A positive study result would mean that Chordate Medical can also achieve a CE mark for migraine in addition to the previous CE mark for rhinitis.
Two shareholders show confidence
Wednesday last week, Chordate Medical announced that Isac Brandberg AB and related parties have increased their ownership share from 7.6 per cent at the turn of the year to 10.7 per cent. Isac Brandberg AB is thus, directly or through related parties, the company’s single largest owner.
The following day, Chordate Medical announced that another major shareholder, Jinderman & Partners AB, has chosen to increase its holdings in the company from 2.4 per cent on December 31, 2020 to 3.3 per cent on February 17, 2021. Jinderman & Partners is currently one of Chordate Medical’s ten largest owners.
Anders Weilandt, CEO of Chordate Medical, believes that this is proof of the two shareholders’ trust in the company:
»It is very gratifying that major owners in several cases have chosen to increase their ownership in Chordate. This is a clear sign of the level of trust that exists for the company among the major owners«
Magnus Brandberg answers

Isac Brandberg AB is a family-owned investment company managed by the brothers Magnus, Erik and Gustaf Brandberg. The Brandberg family was the largest shareholder in the network camera company Axis Communications when the company was acquired by Japanese Canon in 2015, which led to the family receiving SEK 3.4 billion to invest in other companies. BioStock contacted Magnus Brandberg, chairman of Isac Brandberg, to find out more about the increased holdings in Chordate Medical.
Magnus, what does your company portfolio look like and what are you looking for in the companies in which you invest?
– To create a sustainable and more resilient society requires entrepreneurship, technical innovation and long-term and risk-resistant capital, and this is exactly the type of capital Isac Brandberg AB wants to contribute with. The goal for us is not only to be a partner in companies that improve the world, but also to show the rest of the financial industry that sustainability and return can go hand in hand.
– The companies we invest in today are characterised by a willingness to solve major societal problems, strong entrepreneurs and an innovation of some kind. The mandate is broad and we invest in everything from listed securities to unlisted growth companies.
How long have you been a shareholder in Chordate Medical and what was the main reason why you chose to join as a shareholder in the company?
– We became co-owners in the company in 2019, but we have followed the company since 2014. The fact that I myself have had migraine attacks since childhood makes it easy to understand why Chordate caught my interest. We made the investment because we think that the company is trying to solve a huge problem and if it succeeds, it will improve the well-being of many patients.
»The fact that I myself have had migraine attacks since childhood makes it easy to understand why Chordate caught my interest.«
Why did you choose to increase your holdings in Chordate Medical right now?
– Like all investors, we try to assess the risk in the company in relation to the potential upside and we believe that Chordate Medical has justified additional share purchases recently.
What do you see as short-term and long-term potential in Chordate Medical?
– I do not want to comment on how the share price will develop and I also do not have enough insight in the company to be able to assess what the company will achieve in the short term.
– In the long run, I obviously hope that Chordate’s technology, based on clinical studies and successful product development, will help people live a life with less pain and discomfort. If the company succeeds with that, it will also be reflected positively in the value of the company, I think.
Finally, how do you experience the investment climate at the moment and how has your investment activity been affected by the pandemic?
– The pandemic has meant a difficult transition for many companies and industries, but it must also be remembered that crises often lead to new opportunities. For those who act quickly and are adaptable, change often means something positive. We think that we have done well through the pandemic, but we know that there will unfortunately be new crises in the future. Hopefully, through our investments, we can support companies that can prevent these crises.
Jinderman & Partners answers

Stockholm-based Jinderman & Partners is an investment company that, in addition to investing, also functions as a knowledge hub and offers a helping hand to startups and tech companies. BioStock contacted Love Carlsson from Jinderman & Partners to find out what their expectations of Chordate Medical are.
Love, would you like to tell us a little bit about what Jinderman & Partners does?
– Me and my partner Robin Andersson both have a background as angel investors and personally I have been active as a professional investor for 5 years. I founded Jinderman & Partners because I felt that there was a gap between angel investors and larger funds and investment companies where it is possible to create value for both entrepreneurs and shareholders.
– No two cases are alike, but in general we are active owners and we help our clients and portfolio companies with everything from finding the right consultants, staff and board members to raising capital, marketing, and growth.
»Basically, it is an interesting company that addresses an area – migraine – where there is a great medical need and a large potential market.«
What made you interested in Chordate Medical?
– Basically, it is an interesting company that addresses an area – migraine – where there is a great medical need and a large potential market.
How long have you been a shareholder in the company?
– We participated in the directed share issue during the second half of 2020.
Why did you choose to increase your shareholding in Chordate Medical?
– We are constantly evaluating our existing holdings and in Chordate’s case, we have made the assessment that we feel the share is worth buying. It has for a long time been traded at levels we find attractive to increase our holdings.
What are your expectations of Chordate Medical – both in the short and long run?
– In the short term, we hope for good results from the migraine study and increased sales in Saudi Arabia. In the long term, Jinderman likes to support companies that engage in socially beneficial activities.
Finally, how do you experience the investment climate at the moment and how has your investment activity been affected by the pandemic?
– At the time of writing, we are cautiously optimistic. We can see that the listing climate remains favourable. It is important to choose listed companies with care as liquidity has to some extent decreased on the smaller stock exchange lists. Jinderman always tries to maintain good liquidity in order to be able to use the right position for an investment, similar to the increase we have made in Chordate.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.