Baltic Countries

Genome Project Lacks Funding

05.03.2004

Tallinn - The ambitious Estonian Genome Project (EGP) may have to find new financiers to continue operations. In the course of disagreements over the project's priorities the US-investor EGeen International Corp. has withheld the funding for the next round. The Estonian Government reacted with a financial aid of some Euro255,590 in late January (EuroBiotechNews 1/04).
While EGeen, a biotechnology company founded for the commercial use of the EGP data, makes further funding conditional upon a narrowed research focus on diabetes, heart diseases and rheumatoid arthritis, the EGP's initiators refer to the idea behind the gene bank. As declared in the Estonian government's Human Genes Research Act in 2000 the EGP aims to compile a broad genetic database of the Estonian population. It has however also focused on diabetes or hypertension. Under the terms of the public-private partnership between EGeen and the EGP Foundation the latter is the owner of the database, while EGeen, the exclusive commercial licensee of the database, finances the project. So far Euro3.5 million have flown into the EGP's budget.
”EGeen and the foundation are working on the project's development plan for 2004 and beyond” said EGeen's CEO Kalev Kask to EuroBiotechNews. Should EGeen however insist on the norrowed research focus, the foundation will re-consider the existing contract and the company's exclusive rights. Negotiations with other investors are already under way, in particular with the Estonian government and the British charity Welcome Trust. The foundation plans to co-operate with similar gene bank projects in the UK, Canada and Finland.

Baltic Countries

04.06.2010

Vilnius - Thermo Fisher Scientific has bought buys Fermentas International, one of Lithiania's biggest biotechnology outfits for EUR212 million. Fermentas, with headquarters in Burlington, Canada, and principal operations in...

Baltic Countries

13.05.2010

Riga – Latvian producer of active pharmaceuticals ingredients Grindeks has baggedEUR4.1m in funding from the European Regional Development Fund to build a new 1,400 m2 plant for the production of ursodeoxycholic acid (UDCA). The...

Baltic Countries

12.05.2010

Kaunas/Martin – Lithuania’s largest pharmaceutical manufacturer Sanitas AB transferred its ownership in Slovakia’s HBM Pharma sro to the Lat­vian company SIA Liplats 2000 at the end of April. The companies have agreed to transfer...

Baltic Countries

18.08.2008

Riga – Starting in June, Lithuanian researchers involved in FP7 funding projects have the possibility to receive national co-funding if the EU funding programme does not cover 100% of the project cost. Additionally, a new grant...

Baltic Countries

20.05.2008

Riga – Pharmaceutical manufacturer Grindeks is continuing to expand. After opening a representative office in Uzbekistan, the company has now signed an agreement with Wake Forest University’s School of Medicine (US) to supply...

Baltic Countries

19.03.2008

Riga – The Latvian Government will be funding a EUR6 million vaccination programme over the next three years. The programme will cover vaccinations against tuberculosis, hepatitis B, tetanus, tick encephalitis, influenza, polio,...

Baltic Countries

19.02.2008

Vilnius/Brussels – For the first time, the European Commission has taken a member state of the European Union to the European Court of Justice because it refuses to take a biosimilar from the market. Lithuania has refused to...

Baltic Countries

22.11.2007

Riga – Latvia’s largest pharmaceutical manufacturer, JSC Grindeks, has signed a letter of intent (LOI) with two pharmaceutical companies in Belarus during the third meeting of the “Latvian-Byelorussian Inter-Governmental...

Baltic Countries

24.09.2007

Riga – JSC Grindeks has improved its half-year result in 2007. In the first six months of this year, the company‘s revenues grew by 25% to €37.1 million. Half of Grindeks made most sales in Russia (€18.8 million, +8%), and other...

Baltic Countries

11.07.2007

Kaunas – Sanitas AB group net profits have risen by almost seven times (598%) to a6.2 million in the first quarter of 2007 compared to last year, the Lithuanian pharmaceutical manufacturer reported at the end of May. Turnover...

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