deCODE genetics, the controversial Icelandic genetics research firm headed by Kari Stefansson, is to be floated on the stock market. It is likely to become one of the largest biotech firms in Europe. 'deCODE is going to go like a bomb. It would not surprise me to see its value reach $2 billion or more' said one industry expert.
Last month, the Icelandic government granted deCODE access to the medical records, family trees and genetic information of all of the country's 270,000 inhabitants. But more than a fifth of Iceland's medical doctor's oppose the database, because it is based on presumed patient consent. Concerned academics and doctors have set up an organisation called Mannvernd (Icelanders for Ethics in Science), which last week vowed to sue their government for its actions.
There has been little immigration to Iceland since the arrival of the Vikings almost 1000 years ago, and deCODE hope to use this unique genetic heritage to track down genes involved in disease. Dr Stefansson believes his company is good both for Iceland's economy and genetics research. 'We're studying the information which contains the blueprint for man and I am absolutely convinced that this will revolutionise healthcare not only here in Iceland but worldwide', he said.
Sources and References
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Cuts no ice
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Fire and fury in Iceland
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Iceland sells its genetic history
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Nasdaq listing beckons deCODE
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