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NsGene A/S has closed a second round of private
equity funding of DKK 18 million from existing investors. The
financing round had contributions from NeuroSearch A/S, Dansk
Kapitalanlæg A/S, Karolinska Investment Fund, Lønmodtagernes
Dyrtidsfond, Pensionskassen for Værkstedsfunktionærer, A/S Dansk
Erhvervsinvestering, D.A. Invest & Udvikling A/S and private
investors. This capital increase will bring the total cash raised as
equity in NsGene A/S to DKK 83 million.
The capital will secure the Company's product development and
operations and will enable the completion of planned development
milestones and associated revenue stream.
Teit E. Johansen, CEO of NsGene said: "Given the current financial
environment for biotechnology companies, I am very pleased that we
have been able to close a second round of financing. We appreciate
the support from our existing shareholders and look forward to
further develop the Company into a world-leader in novel gene- and
cell-based therapeutics for the treatment of neurological diseases.
Since our inception in December 1999, we have reached very promising
results. The capital raised will ensure the necessary maturation of
our technologies and lead products to enable significant partnering
opportunities in the next couple of years.”
Background
NsGene A/S is a privately held Danish biotechnology company founded
in December 1999 as a spin-off from NeuroSearch A/S, a Danish
pharmaceutical company. NsGene develops cell- and gene-based
products focusing on the treatment of neurological diseases. The
development focus is on encapsulated cell technology products to
treat Alzheimer’s and Parkinson’s disease. The research focus is on
the discovery of novel genes relevant for the treatment of
neurological disorders. Both the development and research programs
are performed in close collaboration with the Company’s exclusive
academic collaborators, including the team that pioneered neural
transplantation for Parkinson’s disease at the University of Lund,
Sweden.
Furthermore, NsGene has a collaboration and license agreement with
the US biotech company Biogen Idec regarding the development of
NsGene’s growth factor, Neublastin, for the treatment of diseases in
the peripheral nervous system.
Today, NsGene employs 22 people at its research facility located
near Copenhagen in the Medicon Valley Region.
For further information visit
www.nsgene.dk or contact:
Bo Karmark, Director of Finance
Telephone: +45 44 60 89 14; Fax: +45 44 60 89 89
E-mail: bok@nsgene.dk
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