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Radiometer Medical A/S Vice President, Radiometer Venture Fund 2002 - 2004 www.radiometer.com

I joined Radiometer in January 2002 after having worked for a couple of months as a consultant to Radiometer. Peter Kürstein, the Executive Vice President in charge of Radiometer Innovation at that time, first contacted me after I left NetDoktor and initiated a dialogue that ended with my employment. It took me a little while to get used to the thought of working for a large organisation like Radiometer after having worked for nimble little NetDoktor.

At Radiometer I was given the job of establishing and running their new corporate venture fund, Radiometer Venture Fund. A total of 100 mio DKK had been set aside for the fund.

For Radiometer Venture Fund I carried out two direct investments into the companies AdvanDx Inc and Visible Diagnostics A/S. I represented Radiometer on the board of both companies.

AdvanDx's mission is to develop and market In Vitro Diagnostic kits for the diagnosis and prevention of infectious diseases. These products are designed to target unmet diagnostic needs, such as identification of microorganisms in blood cultures and screening assays for the prevention of nosocomial infections. The kits provide rapid and accurate identification leading to better patient treatment, infection control, and healthcare management.

Visible Diagnostics designs and markets cost-effective automated screening systems to assist in the detection of cervical cancer. Based on a unique and patented technology within the area of imaging technology, Visible Diagnostics has developed the product Aphrodite. Aphrodite is now ready for commercialization lacking only the successful completion of clinical trials. Visible Diagnostics' mission is to become the first worldwide producer of cervical cancer screening systems to obtain FDA approval with a "No Further Review" rate of 50%. Visible Diagnostics is a spin-out from the company Dimac A/S.

Visible Diagnostics unfortunately had to file for bankrupcy in autumn of 2004. AdvanDx has succesfully launched their initial products and are busy penetrating the US market. After I left Radiometer, I continued to represent Radiometer on the board of both companies until the end of 2004.

In addition, I was responsible for overseeing two investments into the seed-funds; DTU Invest K/S and Øresund Healthcare K/S, where I represented Radiometer on the respective investment committees. 

At the end of 2003, I got in contact with the private equity firm CapMan. After the usual dance, CapMan offered me to join them as Investment Director in their Life Science Business Unit. The scope of CapMan was so much bigger within private equity than Radiometer Venture Fund, and looking forward there were more opportunities with them to grow, both personally and professionally.

It was with regret that I decided to leave Radiometer. I had really enjoyed being there, and still hold my boss Peter Kürstein in high regard. He gave me the perfect environment to grow and learn. He has subsequently become the CEO of Radiometer after the company was bought by Danaher Corp.