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Nanogen Invests $1.5M in Finnish PGx Firm Jurilab, Will Own Up to 25-Percent Stake

Jul 26, 2005

This article has been updated from a previous version, which reported that Nanogen would own up to a 40-percent stake in Jurilab following its second investment round. Jurilab has since disclosed that it will receive additional funding that will bring Nanogen's stake to less than 25 percent.  

 

NEW YORK, July 26 (GenomeWeb News) - Nanogen has invested €1.25 million ($1.5 million) in Finnish pharmacogenomics company Jurilab and will add another €1.25 million within six months, the company said today.

 

In exchange for the investment Nanogen will acquire certain rights to develop diagnostics based on genes and gene markers discovered by Jurilab, which focuses on cardiovascular and metabolic diseases.

 

Jurilab said that it expects to receive additional funding that will bring Nanogen's equity interest in Jurilab after the second investment tranche to less than 25 percent.

 

Nanogen will also distribute Jurilab's products and services and offer the company business development infrastructure and other resources. In addition, Nanogen has the option to fully acquire Jurilab in the future.

 

Jurilab was founded in 1985 and has close ties to the Research Institute of Public Health at the Universityof Kuopio, giving it access to DNA samples and phenotypic data from the East Finlandfounder population.

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