ViroGates Fully Subscribes New Financing Round


June 4th, 2008
ViroGates raises new capital from both current and new investors to continue and expand suPARnostic® commercialization.


ViroGates announced today that it has closed a private financing round of DKK 15 million as new equity capital. Current shareholders and three new private investors subscribed the amount, which will contribute to further investment in the commercialization of suPARnostic® as well as to the development of other suPAR products.

Betina Macho, CEO of ViroGates says: “We are proud and happy for the continuing support of our private shareholders in this important and exciting phase of the company – where suPARnostic® is being introduced into clinical practice in various countries. We are also delighted that new shareholders joined our efforts to expand the commercial opportunities for our products.”

Over the past months, ViroGates has entered into exclusive distribution partnerships with 6 distribution companies, covering 8 European countries and Egypt. Further partnerships for European and Asian countries are being negotiated. “Our product is received with great interest by hospitals and study centres, and in the majority of the partnered countries trials with key opinion leaders are being initiated. Success in such trials will pave the way for suPAR being introduced into clinical practice”, says Ishan Gupta, Head of Sales & Marketing.

ViroGates is also working on development of further suPAR products to best suit the market needs. Amongst those is a line extension to suPARnostic® – suPARnostic® Flex – that allows for patient testing in batch sizes adaptable to the respective clinical setting. Furthermore, a quick test for suPAR – based on the lateral flow test principle – is being developed to provide a rapid answer on single patients in critical care settings.

 


About ViroGates
ViroGates is an international biotech company headquartered in Copenhagen, Denmark. ViroGates develops and distributes prognostic products for healthcare management with a single goal in mind: To identify risk patients early and improve the lives of seriously infected people globally. The novel ViroGates method involves the measurement of a protein found in every individual known as soluble urokinase Plasminogen Activator Receptor (suPAR). suPAR has a unique value as prognostic biomarker: Independent of the respective condition, an elevated suPAR level carries a negative prognostic value and is thus a master alarm for patient risk status. In clinical practice suPAR’s application is in patient triaging in critical care as well as for monitoring of treatment efficacy and success. suPAR’s prognostic value has been exemplified in various infectious conditions through clinical studies, these include sepsis, tuberculosis and HIV.
ViroGates’ first commercial product - suPARnostic® - is an ELISA-based test kit for the quantitative determination of suPAR in human EDTA plasma. suPARnostic® holds the CE/IVD mark and provides a simple, cost-effective and highly transportable clinical monitoring tool. ViroGates has launched suPARnostic® in several European countries and is expanding into Africa and Asia. Further products are being developed: A lateral flow rapid test - suPARQuick - is in final stages of development as well as line extensions to the current kit.

 

Further Information
Please contact Betina Macho, CEO (+45 6035 3340 or bm@virogates.com).

ViroGates A/S, Blokken 45, DK-3460 Birkerød, Denmark, www.virogates.com