Exiqon A/S Goes Public
Exiqon forecasts product sales to double this year and to be cash positive by 2011. The company plans to enter the molecular diagnostics market. Current partnerships include the FlexmiR microRNA products for use with Luminex technology and Roche Diagnostics’s exclusive distribution of its ProbeLibrary Kits universal probes for use with real time PCR. Companies that have licensed its technology include Integrated DNA Technologies, Invitrogen and US Genomics.
Copenhagen, Denmark 5/29/07—Exiqon A/S has completed an initial public offering of approximately 8.7 million shares on the Copenhagen stock exchange at an offer price of DKK 40 ($7.22) per share, raising gross proceeds of around DKK 347.6 million ($62.8 million). Exiqon develops, manufactures and sells reagents, kits and software for the analysis of nucleic acids based on Locked Nucleic Acid (LNA) technology under the miRCURY name. A type of synthetic DNA, LNA is used to improve sensitivity and specificity in genetic analysis. In 2006, Exiqon’s revenues increased 169% to DKK 43.1 million ($7.1 million) (see page 12). Product sales accounted for 49% of revenues.
