MedWatch

Debt-laden biotech company struggles to survive

A Danish biotech company is pursuing new investors while trying to agree terms with Novo Seeds about a million-dollar debt to the investment company. “Looking back, we made some decisions we should have made differently,” admits the CEO.

Foto: Colourbox

The biotech company Affinicon’s ten years long struggle to survive has had a new setback.

The Aarhus-based company has lost the support from the seed investor Novo Seeds. Through Senior Press Officer Christian Mostrup Scheel, the investor informs MedWatch that Novo Seeds no longer considers that the results of Affinicon’s research and development “justify financing.” Novo Seeds does not want to elaborate more on the decision.

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