Estonia's Development Fund announces EUR 0.837 mln investment in biotech firm
Eestlased Eestis 22 Dec 2009  EWR
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BNS - The Estonian Development Fund is investing 13.1 million kroons (EUR 0.837 mln) in the BiotaP OU company that is developing a novel platform for the microbiological testing of environments.

BiotaP currently uses the method in collaboration with researchers from the Tallinn University of Technology and the University of Tartu to evaluate the condition of the country's natural landscapes. For that a computerized model has been created based on the prevalence of 10,000 species of micro-organisms, the Development Fund said.

Indrek Kelder, expert in investments at the Development Fund, said the new method can be applied in a variety of areas starting from soil tests necessary for farmers to researching the impact from not-so-usual kinds of human activity, like wind generators.

In the longer perspective the new method can be used for testing air, water and food, as well as for the testing of various medical samples.

Founded by Tallinn University of Technology professors Toomas Neuman and Madis Metsis, BiotaP started applied research that serves as basis of the new technology with support from Enterprise Estonia three years ago.

BiotaP is the sixth company in the investment portfolio of the Estonian Development Fund.

(EUR 1 = EEK 15.65)

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