News

2008-10-16 Read-Gene pushes back IPO

Read-Gene, a Szczecin-based start-up specialised in genetic cancer screening and clinical trials, postponed its initial public offering on New Connect (the Warsaw Stock Exchange’s alternative market), scheduled for 6 October, until later this month due to “technical factors outside the company’s control”. Read-Gene had originally planned to make its stock market debut in July. The company has raised nearly PLN 5m (€1.5m) from a private share issue, which it aims to spend on building an R&D lab and launching an online service selling genetic cancer tests. Read-Gene started operations in the second half of the year. In 2009 it expects to earn a net profit of about PLN 2m (€0.6m).

Source: www.pharmapoland.com