Danish Swedish biotech company HemeBiotech raises new capital  

2004.07.05
HemeBiotech has gained a DKK 240 million investment from its two existing investors BankInvest and the Danish Fund for Industrial Growth

Danish-Swedish biotech company HemeBiotech has raised a DKK 240 million (USD 38.4 million) investment from its two existing investors BankInvest and the Danish Fund for Industrial Growth. Half the sum is a conversion of loans into shares, while the rest is new funding. The money will primarily be used for phase III trials of HemeBiotech's genetically engineered enzyme for the treatment of the rare hereditary metabolic disease porphyria.

 

Jesper Zeuthen, director of BankInvest's biotech funds, says that HemeBiotech is one of BankInvest's most promising portfolio companies with the potential to take its own products all the way to market and thus deliver considerable value creation. The news is reported by financial newspaper Børsen online.

 

HemeBiotech is a Danish-Swedish company established in 1998. It is headquartered in Hillerød north of Copenhagen, a part of Medicon Valley. In 2002 HemeBiotech invested in production facilities in leased premises in Skovlunde close to Copenhagen.

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