Biolin Medical and Investor AB invests in the newly formed company AlcoDia
Biolin Medical and Investor AB invests in the newly formed company AlcoDia Biolin Medical and Investor AB, through the wholly owned subsidiary Investor Growth Capital, invests in a new method aimed at detecting and measuring use of alcohol. Together with the diagnostics companies Axis Shield and Mercodia and a group of leading scientists at the unit for problems related to drug abuse at the Karolinska Institute in Stockholm, the company AlcoDia has been started. The company is based on a new and patented test for detecting and measuring use of alcohol. The test measures the occurrence of the substance 5HTOL that increases in connection with the combustion of alcohol in the human body. The substance is segregated in a different form in urine and can be detected a prolonged period after the intake of alcohol compared to what can be measured in blood or breathe. The test has a large potential in circumstances where todays methods give inadequate information. New possibilities to measure the intake of alchol, by individuals or occupational groups, within areas that put high demands on safety are created. There is also potential for new applications within the area of treatment of drugabuse. The leading scientists behind the method has previous experience from developing a test for excess consumption of alcohol, CDT, together with Pharmacia Diagnostics. This test is today produced and marketed by Axis Shield. "We believe that a test like this is of great importance. Firstly testing will become simpler and it also increases the probability for accurate measurement a prolonged time after the intake of alcohol", says Staffan Jospehson, Senior Investment Manager, Investor Growth Capital. "AlcoDia is an attractive investment for Biolin. This is a combination of a new and innovative method, with great potential within an important area and in addition to that experienced partners that are involved with the project", says Per Spångberg, CEO of Biolin Medical AB. For further information: Per Spångberg, CEO Biolin Medical AB, +46 8 679 90 10 or +46 70 485 26 39 Staffan Josephson, Senior Investment Manager, Investor Growth Capital, +46 8 463 38 13 or +46 70 824 20 13 Biolin Medical is a venture-capital company that creates value growth in high-technology companies in biotech, medical technology and related areas. Through an operative owner commitment based on unique competence and a comprehensive network, Biolin develops innovations for commercial companies. Bolin's investment portfolio consists of ownership in the companies AlcoDia, Boule Diagnostics, BST Blood Saving Technologies, Cavidi Tech, Integration Diagnostics, Q-Sense and Sinterkil. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/20/20000920BIT00850/bit0001.doc http://www.bit.se/bitonline/2000/09/20/20000920BIT00850/bit0002.pdf