News

2009-02-16 Poland: Debut of Read-Gene on the New Connect market

Read-Gene, biotech company debuted on the 12th of February 2009 on the NewConnect market. This is the second debut and 85 quoted company on the NC market. Read-Gene is a start-up company founded in Szczecin in Poland. It specializes in clinical research and analysis of genetic predisposition to the formation of tumors. During a private issue, prior to the announcement of a public issue, the company acquired nearly 5 million PLN, which is planned to be invested in new R&D laboratory and development of internet sales of genetic tests which enable to detect high risk of cancer. In 2009 the company expects to gain around 1 million PLN of net profit.

Plans for 2009

• Clinical trials-200 patients (Income: 4 000 000 PLN, profit: 800 000 PLN)

• DNA testing/counseling –global selling via internet : 500 patients (Income: 250 000 PLN, profit: 50 000 PLN)

• Network of cancer genetic outpatient clinics- management of high risk families (Income: 1000 000 PLN, profit: 300 000 PLN )

• SEL-BRCA1® -2000 women (Income: 600 000, profit: 120 000 PLN)

Major investment plans for 2009 comprise construction of R&D Read-Gene centre with laboratories ( diagnostics, research), outpatients chemotherapy clinics. The investment assesses at around 8 mln PLN, whilst 60% of the amount is planned to be acquire from structural funds- Innovative Economy Operational Programme.

More information: www.infoengine.pl/ncdebiut/

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