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Denmark s Exiqon A/S Takes $3 Million Funding

Feb 12, 2003

NEW YORK, February 12 -- Exiqon A/S of Copenhagen, Denmark, today announced a fourth-round funding of $3 million.

 

The company said the funding follows a restructuring and layoffs. Details were not available. Investors in the round include Danske Bank, LD, Nobel Group, Scandinavian Life Sciences Venture, and Teknoinvest, the company said. Exiqon will seek an additional $1.5 million in capital, the company said in a statement.

 

The company is commercializing the synthesis and applications of LNA, a novel high-affinity DNA analog with the promise of creating specificity and affinity for conventional DNA-based techniques, the company said.

 

The firm is hoping that the funding, and the restructuring, will help it bridge the gap between development and commercialization, or "until sufficient license revenues are secured by first quarter 2004," the company said in a statement.

 

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