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Sitra reorganises its biotechnology portfolio

Sitra does not intend to give up its biotechnology interests but to chart ways of ensuring their continued development.

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The Nordic investment bank Enskilda Securities has been commissioned by the Finnish Fund for Research and Development, Sitra, to act as advisor when Sitra reorganises its biotechno­logy portfolio. Sitra does not intend to give up its biotechnology interests but to chart ways of ensuring their continued development. – Our aim is to resolve our biotechnology interests by the end of this year at the latest. Sitra’s portfolio at present contains some 40 biotechnology companies and Enskilda’s commission concerns 17-18 of these, says Magnus Sjöblom, Sitra’s CFO.The focus will be on those firms that are expected to need considerable sums of capital in the coming years and whose operations Sitra cannot fund from its own resources as it would like to do. Sjöblom emphasises that this is a question of a further round of investment affecting 17-18 companies. This huge operation can be compared to an acquisition. Enskilda’s task will be to find Finnish and foreign major investors. One alternative might be to set up a new inter­nation­al biotechnology fund in which Sitra will also participate and invest.