ViroGates closes new financing round with successful exit for DTU Innovation/SEED Capital

ViroGates has closed a private financing round of DKK 14.5 million. In conjunction with the new investments, one of the largest Danish venture capital funds DTU Innovation/SEED Capital experienced a successful exit.

DTU Innovation/SEED Capital was one of the first investors in ViroGates.

- When we initially invested in ViroGates, we saw the potential of a Danish company being a success on a global scale. It has been a pleasure to see how the management team has successfully established a real company with an organization, and a marketable product, says Carsten Schou, Partner, SEED Capital.

ViroGates as a very satisfactory investment 

Seed Capital invests in small start-up companies driven by the spirit of innovation and entrepreneurship, and ViroGates has proved itself as a good investment.

Carsten Schou comments that Seed Capitals investments usually are high risk capital, because they invest in the start-up phase, and the reality is that many of their investments never become the success they hope for so in that respect, he stresses that ViroGates has been a very satisfactory investment both on a personal and financial level.

- Innovation funding is an integral and valuable tool for Danish entrepreneurs. ViroGates greatly appreciated the helpful and timely investment in the initial phase of the company's life, and we are pleased that DTU Innovation/SEED Capital was able to experience a successful exit, adds Virogates CEO Ian Laquian.

New millions to expand operations

The new investment was funded by current shareholders and four new private business angels, and will contribute to the continuing development of the ViroGates' operations.

- Recent studies show that our suPARnostic^TM ELISA kit can be used as an effective clinical management tool. Combined with new findings this new capital provides us with the opportunity to expand our operations in more industrialized markets such as Europe and the US, says Jesper Eugen-Olsen, CSO and Founder of ViroGates.

For further information, visit the homepage of ViroGates.

Source: ViroGates, press release, 26.07.2007