Exiqon receives multimillion investment to launch new product  

2003.12.18
The biotech company gets DKK 20 million from its existing investors to launch its Human Probe Library

Existing investors have injected a further DKK 20 million (USD 3.2) into biotech company Exiqon to launch its new product Human Probe Library. It is a unique concept comprising an analysis kit, a chemical library and a web portal which gives researchers and pharmaceutical companies easier access to research into the human genome. The core of the new system is based on Exiqon's patented LNA (Locked Nucleic Acid) technology.

 

Exiqon MD Lars Kongsbak says the Danish biotech company currently has the market to itself and that market size expectations amount to several hundred million dollars. The existing investors include Scandinavian Life Science Venture, Teknoinvest, Nobel Group and the Employees Capital Pension Fund. Exiqon has raised DKK 170 million (USD 27 million) in investments since 1996, including the current sum. The news is reported by BioTechDenmark online.

 

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