GenoMed announces €17m Swiss funding

GenoMed Inc, a disease management company that uses its expertise in genomics to improve patient outcomes, today announced that it has secured up to $21m (€17m) in financing within a 12-month period from Pierpoint Investissements SA, a Swiss-based venture capital group.

GenoMed and Pierpoint have amended their earlier agreement dated March 2, 2004. In the earlier agreement, Pierpoint could exercise 35 million warrants over a five-year period once GenoMed's share price reached $1 (€0.80).