Chempaq Closes Third Round
Copenhagen - Chempaq A/S, a Danish developer of mini-analyzers for cancer patients, has been backed by its three existing and by two new investors for the third round of capital funding, for approximately Euro5.5 million. The device Chempaq XBC (eXpress Blood Count), which allows blood analyses to be conducted in minutes instead of hours, is intended to be put on the market in Denmark in six months. The new investors are Finish BioFund and the venture company Vecata, while the existing investors are Symbion Capital, Vaekts-fonden and Innfond. In addition, a number of employees participated in the raising of capital. The analyzer is not facing any imminent competition, and is protected by a number of patents and patent applications. The new capital will be used to complete the approval process with the authorities in the USA and the EU, to establish a distribution network and for the start of production, which will be outsourced in Denmark and Germany.