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Genomed co. gets a million!

Genomed co. gets a million!

Publish date: 2012-07-23

The new projet of the co-partnership considering “Utilization of genomic diagnostics in development of personalized medicine” gets a sponsor - the Polish Agency of Enterprise Development (pol. Polska Agencja Rozwoju Przedsiębiorczości, PARP). The funding reaches nearly a million EUR (about 3 mio PLN).

Tags: biotechnology , poland , interview

Genomed co. is an unquestioned pioneer at the Polish market of genomics. It is a unique Polish company to in the DNA analysis sector that turned a profit by the third year of business activity. What is more, it has been listed at the New Connect since May, 2011.

The goal of the project funded by PARP is to suggest innovative services for personalized medicine based on genomic sequencing technology. The technology will be targeted to analysis of particular regions of a patient’s genome, for instance, those responsible for tumor development or response of an organizm to medical treatment.

The project will be conducted between 2012-2014. Its total budget reaches over a million EUR, where 70 % comes from external funding.

Aquire of the PARP funding is a great achievement and opportunity for the Genomed company, especially from the point of view of the market implementation of innovative services for presonalized medicine. The project itself is a sort of continuation of a previous enterprise of Genomed connected with technology of total genome sequencing for medical diagnostics, which is already being implemented by the company.

„As we have emphasised before, research run by the Genomed team serve development of personalized medicine. In the future it will support application of therapies focused on treatment of symptoms and solving basal problems connected with development of a particular disease (the gene therapy). One of our goals is to propagate services available to society in terms of price and finally refunded by the National Fund of Health”– says Anna Boguszewska-Chachulska, PhD, the member of the Genomed co. board of directors and the project leader.

It is worth mentioning that the significant fund obtained by Genomed co. may affect  behaviour of stocks at the New Connect. It may have, yet, it does not have to – Mateusz Hyży, the investment analyst of the Trinity Group, claims that: “New Connect is not a typical model market. If the project demonstrate sufficient rate of return, it will probably increase exchange quotations. Still, it is really hard to predict anything right now – for sure, the crucial thing will be the generated income.”

On the other hand, based on the achievements and successes of the company, it seems very likely that the market will react positively to the recent activity of Genomed co. Moreover, the merciless laws of the market are much less important than the investors’ reliance and there are no doubts about that Genomed co. is worth it.

Sources: Genomed co. press release, authorised interview, biotechnologia.pl.

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