Investment in Danish biotech in the US  

Boston based Danish biotech firm Advandx to set up Danish facility following DKK 32 million investment

US biotech company Advandx, based in Boston and founded by two Danes, has received a DKK 32 million (USD 5 million) investment from Scandinavian Lifescience Ventures and the Danish Employees Capital Pension Fund. Advandx develops and markets in vitro diagnostic kits for the diagnosis and prevention of infectious diseases. The investment will be used to speeding up the development of new products - currently the company has three which are approved by the US health authorities.


Financing will also be used to set up a Danish facility which besides R&D in selected areas will be the headquarters for Advandx's European activities. According to MD Thais T. Johansen, the company is aiming for a turnover of more than DKK 100 million (USD 15.8 million) over the next 5 years. The news is reported by financial daily newspaper Børsen online and BiotechDenmark online.


Link > Advandx

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