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MIP Technologies Raises SEK 30 million (USD3.9M)
Lund, Sweden, August 23, 2005 - MIP
Technologies AB, a developer of molecularly imprinted polymers (MIPs) for
separations and drug discovery, announced today that it has closed a financing
round of SEK 30M. Catella Healthcare Investments AB took the major part of the
new round, with Malmohus Invest and company management also participating. The
company's founding investors were Malmohus Invest and Teknoseed, both located
in southern Sweden.
"The addition of Catella Healthcare Investments as
an investor in MIP Technologies represents an important step in the
development of our company," said Dr Anthony Rees, CEO at MIP Technologies.
"The new funds will allow us to expand our product offering and form further
strategic alliances with large companies who have a growing need for
innovative solutions in the Separations arena. The extra resource will also
allow us to expand our activities in critical areas, such as improved
analytical and production capabilities."
Molecular imprinting, a polymer nanotechnology,
makes possible the creation of artificial receptor sites within stable polymer
materials allowing the provision of innovative solutions for the Separations
market. The market covers a wide range of activities, from analytical solid
phase extraction (SPE) products through to large-scale solutions for selective
extraction on an industrial scale.
"We are extremely happy to see Catella Healthcare
Investments on board," commented Torben Jorgensen, Chairman of the MIP
Technologies' Board. "Its presence reflects the excitement now being created
by MIP Technologies' molecular imprinting technology, and will enable us to
grow the company in a faster and more sustained manner."
Annika Espander, CEO of Catella Healthcare
Investments, commented: "We are excited about the capabilities of MIP
Technologies, which we believe will result in further collaborations with
major corporations and the potential for achieving sustained profitability in
the near future."
Hakan Nelson, President of Malmöhus Invest, said:
"As an early and long term investor in MIP Technologies, we are glad to
announce this deal. Based on the platform of products the management team has
created during the last year or so, we are convinced that Catella Healthcare
will be an appropriate partner during the next phase in developing the company
to a profitable international business."
About MIP Technologies:
www.miptechnologies.se
MIP Technologies AB is a world leading company
in the development of molecularly imprinted polymers (MIPs). MIPs are stable
polymer materials in which artificial receptor sites have been created for use
in separations and drug discovery. The company is dedicated to the development
and marketing of innovative, MIP-based products, directly and through
collaborations. MIPs are 'selective separation phases' and as such can be
applied in analytical sample pre-treatment, chemical sensing, dedicated
separations or as screening elements in drug discovery. Analytical solid phase
extraction (SPE) products on the market or in development number some 10
different analyte targets, ranging from a carcinogenic nicotine metabolite
through banned hormone substances such as beta agonists to toxic pesticide
residues. Since the company has environmental permission to produce MIP phases
at the 500 kg level, it is also well placed to develop large-scale separation
solutions for its customers. Currently the Company has alliances in place with
three blue chip companies. MIP Technologies has worked with the Centers for
Disease Control (CDC) in Atlanta and is currently under contract with the US
Environmental Protection Agency (USEPA). MIP Technologies is headquartered in
Lund, Sweden.
For further information,
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