Affitech raises 30M NKr in private placing

6 June 2004

Affitech AS, a Norway-based human antibody discovery and development company, has announced the completion of its fourth private placement, raising an additional 30 million Norwegian kroner ($4.5 million). The placement enables the company to continue its current course to push the discovery and development of human therapeutic antibody products and to further strengthen its proprietary technology platforms. The private placement included existing shareholders Teknoinvest, Ferd Venture and Four Seasons Venture, as well as the new investor Braganza AS.

Martin Welschof, chief executive of Affitech, says that "this is a major step forward towards reaching our strategic goals. This round of financing will support the expansion of our product pipeline and the extension of our combined approach towards antibody/target discovery."

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