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Company changes name to avoid confusion and attract investors

Although Danish life science company Medtrace already secured itself DKK 100 million (USD 15.21 million) from investors, the company's upcoming phase III trial is not fully financed yet. To avoid misunderstandings among potential investors, the firm now changes its name.

Foto: PR, Medtrace

Three years old company Medtrace has added a 'Pharma' to the name to clear up misunderstandings regarding the company's profile.

The Danish firm is navigating in the borderland between pharma, medtech and diagnostics - and if investors misunderstand the company's product, it is hard to maintain their interest, says CEO Martin Stenfeldt.

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