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The Finnish city of Oulu attracts top experts in their field  (25.08.2009)

25.08.2009

Despite the ups and downs of the economy, it is still possible to tempt companies to new markets through actively working to improve the conditions for companies. One stock-exchange-listed company in the bio-technology sector with headquarters in London, ValiRx, has decided to expand their operations to Finland. ValiRx Finland Plc will start operations in Oulu this autumn.

ValiRx Finland is one of nearly 50 companies exploiting and benefiting from bio-technology in Oulu. Its main focus is in new and demanding technologies which benefit cancer care. The field of bio-technology in Oulu is highly active and turnover continues to increase when many other industries are experiencing just the opposite. It is not by sheer good luck that Oulu manages to tempt these companies.

”Oulu has put considerable effort into attracting new international companies,” says director Pauliina Pikkujämsä from Oulu Innovation. “Invest in Oulu–services offers a very concrete package of support making it easy for companies considering a move to Oulu. One of the services is funding instruments with great help from Technopolis Ventures.'

ValiRx Finland Plc believes that all the right conditions exist in Oulu that matter to them. ”We believe that bio-technology know-how in Oulu represents an interesting business opportunity,” explained ValiRx Finland Plc’s managing director Satu Vainikka. “Different business fields combine together in a living network that can be seen, for instance, in the leading operators in the development of printable intelligence and individual medicine. We also find here, therefore, the brains required”. The company will initially employ a skilled workforce of around 5.

In the Oulu region attention has already been given for a long time to companies specialising in the field of bio-technology. Top companies are interested in these networks but they don’t come into existence overnight. ”Oulu has much of interest to offer companies in this field,” says Tuula Palmén HealthBio–programme leader from Oulu Innovation. “We can offer competitive testing and piloting environments for new technologies, and active cooperation between the university, VTT (Technical Research Centre of Finland), the hospital and other operators in the bio-technology field, in which many Finnish and international companies are interested”.

ValiRx has started a pilot project in cooperation with the Oulu University Hospital. This research promises a new and more comprehensive diagnostics of prostate cancer. The results may have great significance for cancer treatment in the future.

For further information:

Oulu Innovation: Tuula Palmén (HealthBio), gsm: +358 50 4617 290
Oulu Innovation: Pauliina Pikkujämsä (Invest in Oulu), gsm: +358 40 7434 362
Technopolis Ventures: Mika Ruostesuo, gsm: +358 50 5576332
ValiRx Finland: Arja Kuittinen, gsm: +358 50 3000 351
ValiRx Plc: Satu Vainikka, gsm: +44 7795 177 873

ValiRx Finland is a bio-technology company creating a portfolio of innovative products in a strong, multibillion dollar technology market undergoing rapid expansion. The Company’s business model is to add value in the earlier stages of product development, where the value increment is proportionally greatest. ValiRx Finland’s products are based on epigenetics - the mechanism for switching genes “on” and “off”. Based on proprietary platforms, the company is developing a portfolio of oncology diagnostics. The product focus is in the epigenomic analysis treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases. The company will benefit from strong contacts with international industry and finance communities through strong links with ValiRx Plc.

Oulu Innovation is a development company serving technology companies aiming to expand in the Oulu region. Its main task is to support enterprises needing to strengthen their competitiveness in global markets. Its service Invest in Oulu tries to actively increase the number of companies moving into the region and to increase investment. Invest in Finland acts as a strategic partner. HealthBio is one of the national know-how centre programmes coordinated by TEM (Ministry of Employment and the Economy) whose main focus is to support the development of the bio-, pharmaceutical- and diagnostic-fields in Finland.

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