Orgenium closes financing round with private investors and Finnish Industry Investment Ltd.
02-07-2004,

Orgenium Laboratories Ltd., a manufacturer of innovative in vitro diagnostic (IVD) products, announced it has closed a preferred equity investment from private investors and Finnish Industry Investment Ltd. The new funding will allow Orgenium to further develop its products and strengthen its development and marketing team.

"We are impressed how quickly Finnish Industry Investment Ltd. is able to make and makes decisions in their co-investment scheme. This is exactly the kind of vehicle that is needed by many growth companies who are suffering from lack of funds. Orgenium Laboratories has the potential to become a significant part of the virus diagnostic market development; with more and more laboratories and hospitals adopting new virus diagnostics technologies. We also see prospects for the company in other diagnostic segments after the expansion stage with current products has been leaped over," said Petteri Hirvonen, CEO at Replicon Corporate Finance Ltd., acting as a financial advisor for Orgenium.

"This amount of attention and interest from investors underscores our position as a high end producer of novel in-vitro diagnostic technology solutions for laboratories and hospitals. It also underscores that we are a stable company that has significant growth potential in the coming years. We will use the revenues for finalizing ISO quality system and CE markings for our production processes and products," said And Demir, president and CEO of Orgenium.

Orgenium Laboratories was established in 1997 and is privately funded. Orgeniums business operations have been based in Helsinki, Finland. R&D processes have been carried out in various locations, including Sydney (Australia) and Basel (Switzerland). Orgenium has now established its own R&D and manufacturing unit in Helsinki (Viikki), Finland.

Finnish Industry Investment Ltd is a government-owned investment company. It engages in equity capital investment and invests in venture capital funds, private equity funds and directly in selected target companies. Finnish Industry Investment Ltd is administered by the Ministry of Trade and Industry.

For further information, please contact:

Replicon Corporate Finance Oy
Petteri Hirvonen, CEO
+358 9 4111 0347
petteri.hirvonen@replicon.fi

Replicon Group provides strategic, financial, and legal solutions that facilitate business activities, efficiency, and increase profitability of corporations and other organizations. Our core competence is in the corporate solutions that facilitate and govern growth of businesses based on innovation. An important part of our activities is continuous learning. We want to find and develop most suitable solutions to our customer needs. Replicon Group's special focus areas are Life-Science and ICT -sectors The main shareholders in Replicon Corporate Finance Oy are its key management, holding majority of the company's shares. Replicon's homepage is www.replicon.fi