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Billionaire philanthropist Bill Gates interested in Swedish pharmaceutical company

Monday, 25 March 2013
The Swedish vaccine company, Viscogel is about to pick up equity from the American billionaire Bill Gates.

The company already has in its ownership books some leading Swedish financiers and now Bill Gates is reported to be on his way to be part of the firm reports Swedish business daily Dagens Industry.

The company, Viscogel AB develops a unique medical chitosan enabling improved vaccines and drugs - a novel medical chitosan – Viscosan® - and a viscoelastic gel - ViscoGel® - with unique properties enabling development of improved vaccines and drug delivery systems.

No estimate of how large the potential market for the company's product could be "but only the market for human vaccines is worth $28 billion and growing at 12 percent per year, which is more than the pharmaceutical market, "said Peter Singer, CEO of the company to Dagens Industri.

Viscogel has received international attention, which is evident in that Microsoft founder, Bill Gates' charitable foundation has shown interest, the paper writes

Among the owners are already fund Management Company Brummer & Partners co-founder, Svante Elfving and stock guru László Szombatfalvy said Dagens Industri

The company will now conduct a private placement of Skr20 million to fund operations for the next two years. The EU has provided funding to the ViVac project which has the objective of showing clinical Proof-of-Concept for ViscoGel® as an adjuvant according to company.
by Scancomark.com Team

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