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June 15th, 2008
Ntera reports losses of €32 million
Ntera, a nanotechnology spin-off from University College Dublin, has racked up losses of more than €32 million as it attempts to develop and market its technology.
The firm was founded in 1997 and attracted about €25 million in funding from venture capitalists during the technology boom of the late 1990s.
However, it made a net loss of €2.5 million in 2006, bringing its total losses to €32.7 million, and leaving it with a deficit of €26.3 million.
‘‘The company is reliant on the support of its creditors and shareholders to continue as a going concern," according to its accounts.
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