Biotech firm Exiqon raises additional funding from existing investors  

2005.06.06
Danish biotech company Exiqon has gained a DKK 116 mn investment from its existing investors following the recently entered distribution agreement with Roche Diagnostics

Danish biotech company Exiqon has gained a DKK 116 mn (USD 19.7 mn) investment from its existing investors, Teknoinvest, Scandinavian Life Science Venture, Nobel Group, BioFund, Danske Bank and the Employees Capital Pension Fund. The money will be used for product development, to increase sales and marketing capabilities, and for repayment of loans. Since Exiqon was founded in 1996, it has received DKK 224 mn (USD 37 mn) in funding.

Exiqon recently entered a distribution agreement with Roche Diagnostics which will sell Exiqon's main product, ProbeLibrary, worldwide. Lars Kongsbak, managing director of Exiqon says the company could have gained even more money from new investors since the agreement with Roche has given Exiqon the seal of approval.

Exiqon was founded in 1996 and is based in Vedbæk north of Copenhagen. The company provides solutions for life scientists worldwide through the application of two core technologies Locked Nucleic Acid (LNA) and Anthraquinone Photochemistry. Exiqon's fundamental business strategy is to allow third parties access to exploit its innovative R&D projects and proprietary technologies through licensing, partnering, and OEM agreements.

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