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November 27 2001, Press Release
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| The national technology agency (TEKES) finances FIT Biotech's HIV-vaccine and GTU™ -technology development programs |
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Tekes has granted additional funding for FIT Biotech's HIV DNA-vaccine and GTU™ - technology development programs. The total funding is 1,8 ME and consists of a grant and a capital loan. FIT Biotech has been in good co-operation with Tekes since 1998 and the financing from Tekes has played a significant part in FIT Biotech's development process.
FIT Biotech's unique pharmaceutical products are based on the novel Gene Transport Unit (GTU™) technology platform. GTU™ has huge potential for many therapeutic and preventive vaccine applications. "The grant from Tekes helps FIT Biotech to continue its development program for novel preventive and therapeutic HIV vaccines as planned," says CEO & President Pekka Sillanaukee.
"Above all, the final funding decision in Tekes was made because of the challenging technology of the project. In this case, we are talking about an innovative project combining international forefront discovery and business knowledge. The products under development also have an exceptionally big commercial potential," says technology specialist Auli Pere from Tekes, describing the background of the funding decision.
FIT Biotech Plc is an innovative global medical biotechnology company engaged in the development and commercialization of analytical and diagnostic products and novel DNA-vaccines for unmet clinical needs. These products are based on the company's Gene Transport Unit (GTU™), recombinant protein and antibody technology platforms. FIT Biotech established its current operations in 1998 and is located in Tampere, Finland and in Tarto, Estonia.
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Tampere, 27th November, 2001
FIT Biotech Plc
Pekka Sillanaukee
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| Additional Information |
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Mr. Pekka Sillanaukee
CEO and President
FIT Biotech Plc.
Tel. +358 3 3138 7000
Fax +358 3 3138 7050
pekka.sillanaukee@fitbiotech.com
www.fitbiotech.com
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