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Stuctural Bioinformatics Opens Europe Branch, Completes Financing

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SAN DIEGO--After announcing the successful $5.2 million closing of a $6 million equity financing deal lead by a group of Danish investors earlier this month, Structural Bioinformatics commenced operations at a new subsidiary, SBI Advanced Technolo gies, in Denmark. Investors included the Danish Development Finance Corporation, Dansk Kapitalanlaeg Aktieselskab, Biotechnology Development Fund, New York Life, Veron Financial, and others.

The company said the additional funding would allow for a computational infrastructure expansion and finance the Denmark office. Located on the northern outskirts of Copenhagen, the new facility will develop commercial applications of advanced informational theories and technologies developed by Danish scientists at the nearby Technical University of Denmark. SBI-AT is chartered to develop new computer algorithms capable of predicting the flexible 3-D shapes of protein molecules to complement the offerings of SBI's structural databases.

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