Citing lower than expected sales in its biomarker and testing business, protein biomarker firm NextGen Group said this week it has entered a convertible loan agreement with Alpha 4 Concepts for the provision of additional funding of £650,000 ($1.04 million).

The funding is required "in order to continue to fund the working capital requirements of the [firm] and the investments in the diagnostic business," the company said. It added that it expects that it will require further funding in the first quarter of 2012.

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