BioCis Pharma Ltd's drug development exceptionally cost-effective
Turku-based biotech company, BioCis Pharma Ltd., has been voted Incubator Company of the Year 2007 in Finland. The company develops its own innovative drugs based on patent-protected technology for the care of inflammation and cancer in people and animals.
Highly commended in the competition were Fidepro Oy Ltd., a developer of intelligent fire alarms, Sensinode Ltd., a developer of wireless sensor networks, and Winfomedia Oy with its product ‘the touch-screen that you don’t need to touch’.
The results of the competition were published on 28th November 2007 at a seminar held in Espoo, which considered the challenges and success factors in the field of Finnish innovation.The event was organised by the Finnish Science Park Association TEKEL
According to the selection criteria, the product development of BioCis Pharma Ltd. was exceptionally cost-effective. The company’s innovative business model and the unique mechanism of medical effect of its products have attracted the interest of some significant foreign capital investors to finance its operations. In addition, the company has taken diverse and efficient advantage of the range of incubator services in the development of its activities. BioCis Pharma is an incubator company at Turku Science Park Ltd.
Fidepro Oy Ltd., a developer of intelligent fire alarms, has developed its operations professionally and systematically, making extensive use of incubator services.Amongst other things, it has built a wide co-operation and distribution network. There is also a clear need for the company’s product in the market, and the product is considered to have excellent competitive advantages. Fidepro is based at the business incubator at Lahti Science and Business Park Ltd.
Sensinode Ltd., which works in the field of wireless sensor networks, has rapidly developed products for the market, and, in a short space of time, has also made significant inroads into international markets. Good co-operation with the incubator has been one of the decisive factors in its speedy development. Sensinode is an incubator company at Technopolis Ventures Oulutech Ltd in Oulu.
The panel felt that the product of Espoo-based Winfomedia Oy was very innovative. The company also has a strong will and ability to develop, which is evident in the make-up of the management team, and in the significant investment in development work at the technology incubator at Technopolis Ventures Ltd.
The selection for the Incubator Company of the Year Competition 2007 was made from a group of candidates proposed by the technology incubators. The choice was made by a panel composed of members of TEKEL’s Business Development Team, with strong input from capital investor. The general selection criteria were innovation, competitive advantages, growth potential, market potential, business development during the incubator period and financial solidity. This was the fourth time that the Incubator Company of the Year Award has been made.
For further information, please contact:
- Martti Elsilä, Managing Director, Technopolis Ventures Ltd, Chairman of TEKEL’s Business Development Team, tel. +358(0)400 682 264
- Olli Mankonen, Director, Turku Science Park Ltd, Vice-Chairman of TEKEL’s Business Development Team, tel.+358 (0)400 921 937
