Historians have not been able to determine when exactly the pharmacy opened, but the oldest records available show that the Raeapteek was already on its third owner in 1422. Some scholars consider the opening year to be 1415.
In a town council's notebook, there is an entry by a chemist named Nuclawes who stated that the owners of the pharmacy are 10 honourable men, the majority of whom are aldermen. Other documents dated after 1422 refer that the first chemist here was Johann Molner and that medicines were already being sold at the pharmacy in the second half of the 15th century.