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Share Issue Gives Cellectricon SEK 89 Million to Continue its Rapid Market Expansion

GOTHENBURG, Sweden, February 21 /PRNewswire/ -- With two successful international product launches, Swedish biotech firm Cellectricon is entering a new expansion phase. The share issue will strengthen Cellectricon's financial capacity prior to a number of significant product launches in 2008-2009. These products have been developed in close collaboration with leading global pharmaceutical companies to meet the industry's increasing demand for fully automated, highly efficient systems for pre-clinical pharmaceutical development.

"Cellectricon is now entering a new expansion phase, in which the company will soon launch two large-scale systems that will revolutionize drug discovery. This capital will enable us to continue our rapid expansion in the United States, Europe, and Asia," said Dr. Mattias Karlsson, Cellectricon's CEO.

In 2008 Cellectricon will launch the first of their large-scale screening system, Cellaxess(R)HT, which has been developed in close cooperation with one of the world's largest pharmaceutical companies. Cellaxess(R)HT will be the only system on the market that enables large-scale supply of genetic material for cells and is tailor made for high throughput RNAi screening.

About Cellectricon

Cellectricon AB is a Swedish biotech company that is a successful provider of groundbreaking products to the pharmaceutical industry that increase efficiency in pre-clinical pharmaceutical development. Cellectricon has already successfully launched two products onto the market that have been sold to ten of the 12 largest pharmaceutical companies in the world. In 2007 the company increased its revenue by almost 50%. In 2008-2009 launch the high-performance systems Cellaxess(R)HT for RNAi screening and Dynaflow(R)HT for ion channel screening. Cellectricon's forthcoming products address a market that is estimated to be US $1.4 billion by 2010.

SOURCE Cellectricon AB
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