MCI.BioVentures acquires Genomed, a modern molecular diagnostics company

Polish investor MCI.BioVentures has invested PLN 0.9 million in DNA Serwis to claim a 31% stake in the medical diagnostics company. The initial investment marks the first round of financing that MCI has planned for DNA Serwis, with future investments targeted at a total of PLN 1.8 million. MCI should have a 47% stake in the company after all investments have been completed, with an option to increase its stake to 60%. DNA Serwis has high revenue goals in place and hopes to be profitable within two to three years.

Genomed / DNA Serwis (www.genomed.pl)
DNA Serwis was formed in early 2008 by a team of researchers at the Polish Academy of Science, with the goal of providing medical diagnostic services to research institutes, universities, and hospitals, as well as both the commercial and consumer sectors.

Genomed operates in the new fast-growing market for provision of services in the scope of medical molecular diagnostics, consanguinity test as well as DNA sequencing and synthesis DNA for pharmaceutical and biotechnological companies, research institutions and individual clients.

The company changed its name to Genomed shortly after the MCI investments began.

MCI.Bioventures
MCI.Bioventures is one of three funds managed by MCI Management SA, a polish private equity group.

MCI Management S.A. (www.mci.pl)
Polish-based MCI Management SA manages investment in Venture Capital and Private Equity funds. The MCI Group invests in Central European companies engaged in the Financial Services, Healthcare and Lifescience/Biotechnology, and TMT industries. MCI is based in Warsaw with a five-member executive board and seven managing partners.

Funds under management include TechVentures’99, TechVentures’02, MCI.BioVentures, MCI.EuroVentures and MCI.SuperVentures. MCI has been listed on the Warsaw Stock Exchange since February 2001.

MCI focuses upon Central and Eastern Europe and mainly invests in Internet companies, m-commerce, wireless technologies, software, IT, biotechnology/life science and media. Its offices in Warsaw and Prague manage companies like Travelplanet.pl SA, Intymna.pl Sp. z.o.o., Digital Avenue SA, Bankier.pl SA, and Finepharm Sp. z.o.o.