Danish biotech company Exiqon will launch on the US market the first of a series of gene tests designed to help doctors diagnose whether particular cancers are malignant forms which need intensive treatment, reports national daily newspaper Berlingske Tidende.
Exiqon's finance director Hans Henrik Christiansen told Berlingske Tidende: "We are putting out first product on the market later this year. Precisely which form of cancer it will involve has not yet been decided on. But it will be the first in a series of tests based on a particular gene test which can give a firm answer on whether a given cancer is an aggressive form."
Exiqon will conduct the US launch through its American subsidiary. In February this year Exiqon took over the US firm Oncotech, which for the last 20 years has performed cancer tests for US hospitals and has a well-established sales network to the US hospitals with cancer treatment facilities.
Oncotech also has a biobank of 160,000 tissue biopsies, which gives Exiqon a unique resource for the further development of its tests. The British consultancy firm Frost & Sullivan selected Exiqon as the recipient of its 2008 Growth Strategy Leadership award in the molecular diagnostic market in recognition of its well considered and implemented strategy for accessing the US market.
Exiqon was founded in 1996 and is based in Vedbæk north of Copenhagen. The company has been listed on the OMX Nordic Exchange Copenhagen since 2007. Institutional investors include BioFund (Finland), Danske Bank (Denmark),Scandinavian Life Science Venture (Denmark/Sweden), Teknoinvest (Norway), Nobel Group (Denmark)and the Employees Capital Pension Fund (Denmark).