Orgenium receives financing from Abroad and Expands Production to Low Cost Production Site in Ankara, Turkey
05-09-2005, ph

Orgenium Laboratories Ltd. (Helsinki, Viikki), a manufacturer of innovative in vitro diagnostic (IVD) products, announced it has closed a significant preferred equity investment from abroad. The new funding will allow Orgenium to further develop its products and strengthen its development and marketing team, and additionally expand its production capacity in to a low cost area. Majority of the new financing comes from Turkish business angels some of whom are in major positions in Turkish health care industry.

In connection with the new financing Orgenium Laboratories Ltd establishes fully owned daughter company in Turkey. ISO certified and CE marked production facilities will start function in Ankara Technopolis area from the beginning of November, 2005. Orgenium's R&D work will continue to be conducted in Helsinki and Basel, in collaboration with the Basel University Hospital. Also current production facilities will remain in Viikki, Helsinki.

"This amount of attention and interest from investors underlines our position as a high end producer of novel in-vitro diagnostic technology solutions for laboratories and hospitals. 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. Orgenium's 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.

The Company and business angel financiers have agreed not to disclose any further details of the financing round.

Replicon acted as a non-exclusive advisor to Orgenium in this private placement.

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