US life science concern acquires Danish protein analysis company  

2010.04.20
Odense-based protein analysis company Proxeon has been sold to the major life science concern Thermo Fisher Scientific in the US

Odense-based protein analysis company Proxeon has been sold to the major life science concern Thermo Fisher Scientific in the US, reports state-backed venture fund Vækstfonden in a press release. The transaction is the first Danish venture sale this year.

 

Proxeon, which develops and sells advanced protein analysis equipment, was formerly owned by three Danish venture funds Inventure Capital, Vecata, and Vækstfonden. From 2008 to 2009, the company's revenues increased by over 100% to just under DKK 50m (USD 9m).

 

The investors are very satisfied with the deal, although details of the sale have not been disclosed. Managing partner of Inventure Capital Jarne Elleholm comments in the press release: "This transaction shows that money can be earned in venture investments in Denmark, and we expect to see more examples from the venture industry during the year."

 

At Vækstfonden, the sale is being taken as a sign that Denmark is capable of making innovation into a lucrative business. "The sale gives a clear sign that Denmark can foster companies that, while they cannot develop strong products by themselves, are nonetheless attractive acquisition targets for major foreign companies," says investment partner Tonni Bülow-Nielsen  in the press release.

 

The statement from Vækstfonden indicates that Proxeon's activities will continue to be based in Denmark. The company employs some 40 people.

 

Link > Proxeon                    

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