Danish biotech grows its investment potential  

2002.02.11
Danish biotech grows its investment potential

Investment opportunity in the thriving Danish biotech industry has grown to at least DKK 2 billion, reports Danish financial daily Børsen. The many start up companies have quickly reached the size where they are now ripe for strategic financing.

A good example is provided by Neurosearch, which last Friday signed its most important co-operation agreement so far with Boehringer Ingelheim, according to national daily Jyllands-Posten. The German megagroup is investing a total of DKK 680 million in exchange for sales rights to a drug for Alzheimer’s and Parkinson’s disease that Neurosearch is developing. DKK 170 million is being made available now, with the rest to follow over the coming years. Boehringer Ingelheim is taking on the future development costs of the drug.

“It is the most important agreement in Neurosearch’s history. The cash injection ensures that we can develop the drug for the ever more prevalent Alzheimer’s and Parkinson’s disease and bring it to market” says Neurosearch’s Managing Director Jørgen Buus Lassen.

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