3i cash on the way to Danish biotech  

2003.04.10
UK venture company 3i is expected to increase its investments in Denmark in 2003

The UK venture company 3i is expected to increase its investments in Denmark in 2003, reports biotechdenmark.dk. Last year 3i invested EUR 1 billion in Europe and the forecast for 2003 is at about the same level. 3i invests across the complete spectrum of enterprise from start-up companies to owning hospitals. However 3i's Life Science and Biotech Investment Director, Arne J. Gillin expects that rank and file biotech companies in Denmark will take pole position on their wish list.

 

3i is currently investing in one company in Denmark, the biopharmaceutical firm Genesto located north of Copenhagen in Medicon Valley. Genesto develops novel pharmaceutical compounds for infectious diseases. Together with the Danish Growth Fund (Vækstfonden), 3i put a DKK 40 million (USD 5.7 million) capital injection into Genesto in 2002, gaining a majority shareholding in the process.

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