Cork-based healthcare company Solvotrin Therapeutics has raised €6.7m in its latest funding round.

Solvotrin, the developer of the Active range of iron healthcare products, is on target to deliver 40% turnover growth in 2020, with 50% growth in the UK, despite the impact of Covid-19. 

The company said its new funding will be used to support expansion in international markets. 

Investors in the latest funding round include London based RAB Capital and Elkstone Ventures. 

RAB Capital founder Michael Alen Buckley will join the Board of Solvotrin Therapeutics as its Vice Chairman.

Solvotrin said the new funds will support its continued expansion of the Active range in International markets including the US, China, India and the Middle East. 

It will allow the company to progress the development of its pipeline technologies which will be subject to specific additional fundraising in the coming years.  

"The strength of our range of products and the strong re-order rates that we are experiencing in markets around the world meant that, despite the challenges of Covid-19, we were able to bring this new funding onboard," commented Pat O'Flynn, the CEO of Solvotrin Therapeutics. 

"The Active Iron range is on sale in ten markets across four continents and it is planned to significantly expand in these markets over the next two years. This funding will not only support that development but also to help to drive forward our research led product development," Mr O'Flynn added.