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Innovation Norway grants NorDiag risk loan of NOK 4 million
3 Sep 2008: Innovation Norway has granted NorDiag a risk loan of NOK 4 million. The loan is regarding product launch, commercialization and market development related to different projects. Payments are related to milestones in the projects. - These projects are central in our business plan, and we are pleased that Innovation Norway by this; really contributes to research and development, says CEO Mårten Wigstøl. A condition for receiving the loan is that the company itself finances 50 per cent of the actual projects.
Contact: CFO Tone Kvåle, phone +47 915 19576
About NorDiag:
NorDiag is a biotechnology company developing, manufacturing and marketing automated solutions, instruments and tests, for diagnostic of infectious diseases and cancer. The Company`s core competence is isolation of bacterial and human DNA from difficult clinical samples, and the Company has established a solid market share in the Scandinavian market for sexually transmitted infections. The company has similar applications for Tuberculosis and MRSA. An application for respiratory pathogens is under development. NorDiag is also developing a test that shall contribute to early diagnosis of colorectal cancer, as well as a test that shall contribute to optimal treatment of lung cancer patients. NorDiag was founded in 2003 and has its headquarters in Oslo - Norway. The Company has offices and laboratories in Bergen - Norway, Stockholm - Sweden and West Chester (PA) - USA. The group has 36 employees. NorDiag is listed on Oslo Stock Exchange with the ticker NORD. For further information - www.nordiag.com
Read the Notice in Norwegian here