Finland's preclinical research co Experimentica sets up subsidiary in Lithuania
Experimentica, seen as one of Finland's most promising innovative companies, has established a subsidiary in Lithuania, where it plans to conduct tests with rodents and use the results in the development of medicines.
Experimentica Lithuania, which is wholly owned by the Finnish company, was registered with the Center of Registers last week. It has an authorized share capital of 600,000 euros.
The Lithuanian company is headed by Giedrius Kalesnykas, founder and CEO at Experimentica.
Symantas Ragauskas, head of the Lithuanian project, told BNS that they plan to start setting up the company's laboratories in Vilnius in September. The company will employ eight to nine Lithuanian scientists.
Founded in 2013, Finland's Experimentica employs 15 scientists. Its shareholders include Finnish, German and Lithuanian scientists, Ragauskas said.