Skip to content

Our story

Flerie is a long-term developer of companies with ambitious science and the ability to tackle major medical challenges


Flerie was established in 2011 by Thomas Eldered, who co-founded and built one of the global top five drug manufacturers, Recipharm. Dr Carl-Johan Spak, now Senior Advisor, and Thomas laid the foundation for Flerie’s evergreen strategy and oversaw the early investments. Flerie sold Cormorant Pharmaceuticals to BMS in 2016 and Cobra Biologics to Cognate Bioservices in early 2020 – this enabled further investments. In 2018, Dr Ted Fjällman, then chief executive of one of the portfolio companies, joined as Venture Partner, later Partner and CEO of Flerie.

Cormorant Pharmaceuticals was sold to Bristol Myers Squibb in 2016 for up to $520 million

During the early days of the pandemic, Thomas, Carl-Johan and Ted developed a more scalable way of working and started hiring the rest of the current team. By the end of 2022 the portfolio had expanded to over 30 companies in Europe, Israel, and the US. This major capital deployment was made possible following the divestment of Thomas’ stake in Recipharm in 2021 in one of the largest take-privates in Europe that year.

Operational experience, broad networks and international access to the highest performing biotech and pharma ecosystems

Today, the core team of nine is based in Sweden, UK, Switzerland and Belgium, with easy access to many of the highest performing biotech and pharma ecosystems in the world. All team members have operational experience running life science businesses themselves and can furthermore draw upon many experts and key opinion leaders for due diligence and development needs. The board was strengthened in early 2023 with seasoned experts Cecilia Edström, Anders Ekblom, and Jenni Nordborg.

Flerie also syndicates with investors from Europe, North America, the Middle East and Asia to actively build product development and commercial growth companies operating primarily in the drug development as well as in the related device and service spaces. The portfolio today spans a wide range of areas, including immuno-oncology, metabolic diseases, biologics development and manufacturing organisations, and even a cleantech company, all of which have the potential to make a significant impact on health and wellbeing in society.