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MIP Technologies Raises SEK 30 million (USD3.9M)


Lund, Sweden, August 23, 2005 - MIP Technologies AB, a developer of molecularly imprinted polymers (MIPs) for separations and drug discovery, announced today that it has closed a financing round of 30M SEK. Catella Healthcare Investments AB took the major part of the new round, with Malmöhus Invest and company management also participating. The company’s founding investors were Malmöhus Invest and Teknoseed, both located in southern Sweden.

“The addition of Catella Healthcare Investments as an investor in MIP Technologies represents an important step in the development of our company,” said Dr Anthony Rees, CEO at MIP Technologies. “The new funds will allow us to expand our product offering and form further strategic alliances with large companies who have a growing need for innovative solutions in the Separations arena. The extra resource will also allow us to expand our activities in critical areas, such as improved analytical and production capabilities.”

Molecular imprinting, a polymer nanotechnology, makes possible the creation of artificial receptor sites within stable polymer materials allowing the provision of innovative solutions for the Separations market. The market covers a wide range of activities, from analytical solid phase extraction (SPE) products through to large scale solutions for selective extraction on an industrial scale.

“We are extremely happy to see Catella Healthcare Investments on board,” commented Torben Jorgensen,, Chairman of the MIP Technologies’ Board. “Its presence reflects the excitement now being created by MIP Technologies’ molecular imprinting technology, and will enable us to grow the company in a faster and more sustained manner.”

Annika Espander, CEO of Catella Healthcare Investments, commented: “We are excited about the capabilities of MIP Technologies, which we believe will result in further collaborations with major corporations and the potential for achieving sustained profitability in the near future.”

Håkan Nelson, President of Malmöhus Invest , said: “As an early and long term investor in MIP Technologies, we are glad to announce this deal. Based on the platform of products the management team has created during the last year or so, we are convinced that Catella Healthcare will be an appropriate partner during the next phase in developing the company to a profitable international business.”

MIP Technologies AB is a world leading company in the development of molecularly imprinted polymers (MIPs). MIPs are stable polymer materials in which artificial receptor sites have been created for use in separations and drug discovery. The company is dedicated to the development and marketing of innovative, MIP-based products, directly and through collaborations. MIPs are ‘selective separation phases’ and as such can be applied in analytical sample pre-treatment, chemical sensing, dedicated separations or as screening elements in drug discovery. Analytical solid phase extraction (SPE) products on the market or in development number some 10 different analyte targets, ranging from a carcinogenic nicotine metabolite through banned hormone substances such as beta agonists to toxic pesticide residues. Since the company has environmental permission to produce MIP phases at the 500 kg level, it is also well placed to develop large scale separation solutions for its customers. Currently the Company has alliances in place with three blue chip companies. MIP Technologies has worked with the Centers for Disease Control (CDC) in Atlanta and is currently under contract with the US Environmental Protection Agency (USEPA).

MIP Technologies is headquartered in Lund, Sweden. More information about the company can be found at www.miptechnologies.se.


Publisher Contact Information:

MIP Technologies AB
+46 46 286 3780
anthony.rees@mip.ideon.se

Company profile of MIP Technologies AB
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