DiaGenic

DiaGenic ASA

Type	Public (OSE: DIAG)
Industry	Pharmeceuticals
Founded	1998
Headquarters	Oslo, Norway
Area served	Global
Key people	Erik Christensen (CEO) Håkon Sæterøy (Chairman)
Products	BCtect ADtect
Services	Diagnostic tests
Revenue	NOK 0 (2008)
Profit	NOK -34.5 million (2008)
Website	diagenic.com

The Company

DiaGenic (OSE: DIAG) is a Norwegian listed biotechnology company that was founded in 1998.

The company develops patient-friendly tests for the early diagnosis of serious diseases. The Company's concept is based on the identification and clinical documentation of disease-specific gene signatures measured using normal blood samples. The Company's patented method will be capable of being used in the diagnosis of several important diseases.

The first products from DiaGenic are tests for the early diagnosis of breast cancer (BCtect) and Alzheimer's disease (ADtect), to be followed by a test for Parkinson's disease (PDtect). In June 2009 DiaGenic released ADtect and BCtect as CE IVD Mark products for detection of breast cancer and Alzheimer's disease and consequently can start marketing the tests in EU and EFTA countries.

Marketing and sales of the tests in Europe are to be managed by distributors, where the first distribution agreements are signed.

Diagenic was awarded Norway`s most innovative company for 2009 by the Research Council of Norway.^[1]

Products

BCtect test is an in-vitro diagnostic test for the quantitative measurement of gene expression in the blood of patients with suspected breast cancer. The intended use for BCtect is to aid in the diagnosis of breast cancer in adult women.

It is intended that the BCtect test is used together with other clinical evidence to confirm the presence or absence of breast cancer. In general the key advantages of DiaGenic’s breast cancer test are:
- A blood based test is patient friendly compared with mammography
- Easy to use, sample can be obtained by the patients primary physician
- Advantages with regards to early detection
- Consistent level of accuracy also in young women with dense breasts

ADtect is an in-vitro diagnostic test for the quantitative measurement of gene expression in the blood of patients with memory complaints or cognitive problems. The intended use for ADtect is to aid in the diagnosis of mild-moderate Alzheimer’s disease. It is intended that the ADtect test should be used together with other clinical evaluations.

Key advantages of DiaGenic’s Alzheimer’s disease test are:
- Easy to use, current diagnosis may take several months and require extensive evaluation using many different diagnostic modalities
- Do not require specialist setting
- Do provide an objective answer, diseased yes /no
- Improved accuracy to current diagnostics, with regards to early detection

Vision and Mission

DiaGenic's vision is to be a leading provider of molecular diagnostics for the early diagnosis of diseases. DiaGenic’s mission is to offer patient friendly diagnostic tools for the early detection of diseases in order to contribute to an improved quality of life for patients and reduced costs for society.

Business Concept and Strategy

DiaGenic is a leader in the development of tests for the early detection of diseases through the analysis of gene expression in normal blood samples. The Company takes product candidates from exploratory research through the entire product development cycle up to the establishment of sales and marketing channels for its tests. Sales and marketing is undertaken in cooperation with partners. DiaGenic’s sales and marketing strategy involves establishing a distribution network for selected markets in Europe. DiaGenic’s strategy for entering the US market has recently been altered.

Technology

DiaGenic’s unique and patent-protected concept for the diagnosis of disease is based on the knowledge that a disease located at one place in the body will produce secondary characteristic responses in other parts of the body. These responses can be measured in normal blood samples, where the blood cells reflect the response with disease-specific gene expression in blood. Changes in gene activity of the selected genes are measured using gene expression technology DiaGenic’s concept involves identifying these genes and using them to develop a disease-specific gene expression signature to form the basis of a diagnostic test.

Management

Erik Christensen (1956),CEO, is a medical doctor from Odense and Oslo University. He has practised as a doctor and has been head of clinical chemistry at Ullevål University Hospital in Oslo. He has held several management positions inn Abbott Norge AS, most recently as country manager for the diagnostic division. He joined DiaGenic in January 2007. Erik Christensen is a Norwegian citizen residing in Kolbotn, Norway. His business address is DiaGenic ASA, Grenseveien 92, N-0663 Oslo, Norway

Morten Sten Johansen (1975),International Business Director, is a medical laboratory technologist from Østfold University College and a degree from University of Oslo. Before joining DiaGenic in 2009, he has held management positions within sales and business development in the Nordic Countries, in companies such as bioMérieux and Ventana Medical Systems. Morten Sten Johansen is a Norwegian citizen residing in Nøtterøy, Norway. His business address is DiaGenic ASA, Grenseveien 92, N-0663 Oslo, Norway

Dag Chr. Christiansen (1954),Marketing Director, holds a MSc in biochemistry from Bergen University and a degree from Oslo Business School. Before joining DiaGenic in 2005, he has held positions within sales and marketing in Norway and internationally, in companies such as Dyno Particles and Axis-Shield. Dag Chr. Christiansen is a Norwegian citizen residing in Lillestrøm, Norway. His business address is DiaGenic ASA, Grenseveien 92, N-0663 Oslo, Norway

Ruben Ekbråten (1976),Financial Controller, holds a MBA from Heriot Watt University. He has experience as a stock broker, and he has held several positions within finance at GE Healthcare in Norway and internationally. Before joining DiaGenic in 2007 he was a Finance manager at GE Healthcare. Ruben Ekbråten is a Norwegian citizen residing in Oslo, Norway. His business address is DiaGenic ASA, Grenseveien 92, N-0663 Oslo, Norway

Anders Lönneborg (1956),Research Director, holds a doctorate in molecular plant physiology from Umeå University and undertook post doctorate studies at Michigan State University. He has extensive experience in management of research groups and as a professor. He is a co-founder of DiaGenic. Before joining DiaGenic in 2000 he managed a research group at the Norwegian Institute for Forest Research. Anders Lönneborg is a Swedish citizen residing in Ås, Norway. His business address is DiaGenic ASA Grenseveien 92, N-0663 Oslo, Norway

Praveen Sharma (1964),Technology and Product Development Director, holds a Ph.D. in molecular biology from the Norwegian University of Life Sciences (UMB) and a M.Sc. from University of Oslo. He is a co-founder of DiaGenic. Before joining DiaGenic in 2000 he held a research position at the Norwegian Institute for Forest Research. Praveen Sharma is an Indian citizen residing in Oslo, Norway. His business address is DiaGenic ASA, Grenseveien 92, N-0663 Oslo, Norway

Edith Rian (1966), Operations Director, a Ph.D. in molecular biology from University of Oslo and a M.Sc. from Norwegian University of Science and Technology. Before joining DiaGenic in 2008 she held a research position at the Norwegian Radium Hospital. Edith Rian is a Norwegian citizen residing in Bærum, Norway. Her business address is DiaGenic ASA, Grenseveien 92, N-0663 Oslo, Norway

Board of directors

Håkon Sæterøy (1958), executive chairman Sæterøy holds an MBA from Norwegian School of Business, Bergen, 1981. He has over 20 years’ experience in business investment and corporate finance, most recently specialising within life science. From the listing of DiaGenic in 2004 until October 2007 Sæterøy has been the Company’s Head of Investor Relations. He is a board member of Oslo Cancer Cluster Foundation and Chairman of the board of Epitarget AS and Kezzler AS, and he is also engaged as consultant for the Company. Sæterøy is a Norwegian citizen, and his business address is Skogfaret 25 B, N-0382 Oslo, Norway.

Gustav Ingemar Kihlstöm (1952), vice chairman Kihlström has a Ph.D. in physiology from Uppsala University. He is an Associate Professor of Uppsala University and has more than 15 years’ experience with Astra and Pharmacia in Sweden and other countries. From 1996 to 2004 he worked as a financial analyst, most recently as head of the health sector team at ABG Securities in Stockholm. He is currently an independent consultant within the field of science and the financing of life science companies. He is Chairman of the board of Artimplant AB, Karocell AB, Med Cap AB and a board member of several listed and unlisted companies. Kihlström is a Swedish citizen, and his business address is Borgvägen 4, SE-752-36 Uppsala, Sweden.

Ingrid Alfheim (1946), board member Alfheim holds a M.Sc. degree from Norges Tekniske Høyskole, 1969, and a Ph.D. in environmental toxicology from Oslo University, 1984. Alfheim is currently Managing Director in Biomedisinsk Innovasjon AS and was previously Research Director in Axis-Shield ASA. Prior to this she managed her own firm within international technology broking and was also employed in both the Norwegian Research Council and the Norwegian Centre for Industrial Research. Alfheim has for many years been a board member of the Norwegian Radium Hospital’s Research Foundation, and she has been a board member in several biotechnology companies. Alfheim is a Norwegian citizen, and her business address is Gaustadalléen 21, N-0348 Oslo, Norway.

Mina Louise Blair (1965), board member 50 Blair has a degree in political studies from Aberdeen University, Scotland. In the period 1999–2009 she has worked for the pharmaceuticals company AstraZeneca in London as Director Investor Relations Europe. Before that Blair worked in public affairs at Zeneca Agrochemicals’ headquarters in England. Through her work Blair has extensive expertise in a number of technical areas within the pharmaceutical industry. In addition she has an extensive network among investors and pharmaceutical companies. Blair is a Norwegian citizen residing in United Kingdom and her business address is 6 Southlands Park, Midhurst, West Sussex, GU29 9PW, United Kingdom.

Maria Holmlund (1956), board member Holmlund has a Master of Science degree from the University of North Carolina and Institute of Marine Sciences, North Carolina, USA. She is currently business area manager in Phadia AB with responsibility for building up a new product concept for Phadia internationally in the Point of Care segment. Holmlund has held a number of management positions within diagnostics companies, including, in addition to Phadia, Pharmacia Diagnostics, Roche Diagnostics and Boehringer Mannheim. Holmlund is a Swedish citizen and her business address is Rapsgatan 7, SE-751-37 Uppsala, Sweden.

Praveen Sharma (1964), board member Praveen Sharma (1964) is currently the Technology and Product Development Director in the Company and also one of the co-founders of DiaGenic. He holds a Ph.D. in molecular biology from Norges Landbruks Høyskole, 1995. Sharma has previously held several research positions, most recently at the Norwegian Institute for Forest Research. Sharma is an Indian citizen and his business address is Grenseveien 92, N-0663 Oslo, Norway.

External links

• Corporate web site
• Prospectus

References

1. ^ The Research Council of Norway http://www.rcn.no/servlet/Satellite?c=Nyhet&pagename=stamceller%2FHovedsidemal&cid=1253951988601