Following Nanogen Investment, Jurilab Says it Expects Additional Funding from Undisclosed Parties

NEW YORK, July 26 (GenomeWeb News) - Jurilab expects several million dollars worth of additional funding from undisclosed parties within the next several months, on top of the $3 million investment from Nanogen announced on Tuesday, GenomeWeb News has learned.

Nanogen has so far invested $1.5 million in the Finnish pharmacogenomics company, giving it an approximately 20-percent equity interest in Jurilab, and will add another $1.5 million within six months.

As a result of the expected additional funding, Nanogen's equity interest in Jurilab after the second investment tranche will total less than 25 percent, not close to 40 percent as previously reported, according to a company spokesperson.