IntegraGen, a company focused on the development
and delivery of genetic tests for complex diseases has announced
the successful closing of its second financing round raising 8
million Euro, which brings the total capital raised by IntegraGen
to date to 20 million Euro. The international syndicate of investors
comprising both existing and new investors participating included
CDC Entreprises Innovation, AGF Private Equity, Bioam, SGAM Alternative
Investments, and Baytech Venture Capital.
Commenting on the financing, Dr.Jan Mous,
president and CEO said: "We are delighted that existing investors
have continued their commitment to the Company and welcome the
new investors. IntegraGen has made spectacular progress over the
last few years and we are at an exciting time in the Company’s
evolution as we move from a research-intensive phase into commercialization
of our predictive genetic tests. Such tests will play a significant
role in the personalized healthcare regimes of the future, contributing
to improved health through lifestyle and disease management."
IntegraGen is focused on the development
of diagnostic and prognostic genetic tests for a range of complex
diseases using its novel technology platform for gene identification
(Genome HIP™). Since its creation in 2000 it has made significant
discoveries in its focus areas of Diabetes, Obesity and Autism.
It has partnerships in other disease areas, including a deal with
Aventis for the discovery of genes associated with schizophrenia.
Earlier this year, the Company opened its first Expert Centre,
in Bonn, Germany where it conducts its MODY (Maturity Onset Diabetes
of the Young) testing.
The new investment will be used to further
develop the Company’s genetic tests and to launch them into the
market. IntegraGen plans to bring its genetic test for autism
to market in 2006 and anticipates launching a genetic test for
late onset type 2 Diabetes in 2008. The Company has several other
proprietary tests under development, which will form the basis
of its future pipeline of IntegraTests™.
Remi Droller, AGF Private Equity said:
“IntegraGen is at the forefront of the development of genetic
tests for common diseases to enable personalized medicine. It
has a strong and experienced international management team working
to address unmet clinical needs based on a very innovative technology
platform. We are confident that the Company will be successful
in creating significant markets for its new tests as they are
commercialized.”