Århus based biotech company attracts investment  

2002.08.05
Borean Pharma has received a DKK 35 million cash injection from a consortium led by Bank Invest

Erhvervsbladet reports today that Borean Pharma A/S, the first Århus-based biotechnology company to attract venture capital, is growing strongly. The company, which uses a patented technology to develop pharmaceutical proteins, recently received a DKK 35 million (USD 4.7 million) cash injection from a consortium led by Bank Invest. According to Borean Pharma, further substantial investment is anticipated from the same source during the latter part of this year. Aalborg-based Novi A/S and Århus-based Incuba have also invested in Borean Pharma.

 

The cash injections have enabled Borean Pharma to increase its workforce from 5 to 21, and the company expects to employ a total of 35 people next year.

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