AB-Biotics closes €5-millions round of funding
These resources will go to boost international expansion. Pharmaceutical company Almirall has entered as a new shareholder, investing €1 million.
By Biocat
Catalan biotechnology firm AB-Biotics, which is traded on the Alternative Stock Market (MAB), has met their goal of closing a round of funding for €5 millions before the end of 2012. The company will put these funds into driving an international expansion plan they launched at the beginning of the year and which has led them to sign contracts in various American, European and Asian markets. “We’re very satisfied with the results of the operation”, said Miquel Àngel Bonachera and Sergi Audivert, co-founders and CEOs of the company.
Through a capital increase launched on the MAB on 16 October, they have raised €4.3 millions. Additionally, the Catalan Finance Institute (ICF) Capital MAB FCR venture capital fund has taken on stock valued at €800,000. The rest of the shares in the increase were purchased by minority shareholders.
This capital increase has led to new shareholders entering the company, noteworthy among which is Almirall, which has purchased shares valued at €1 million, as Biocat announced on 24 October. Starting in 2013, these two companies will collaborate to market Neurofarmagen, a genetic test that uses DNA extracted from a saliva sample to determine patients’ predisposition to respond to the most common drugs used to treat diseases like depression, schizophrenia, bipolar disorder and epilepsy, in Spain. AB-Biotics has started looking for specialized partners to market their pharmacogenetic analyses abroad, including Neurofarmagen.
Bankia Bolsa coordinated the increase and acted as the placement agent for the operation, as it did when AB-Biotics launched its IPO on the MAB and in the company’s previous capital increase. DCM Asesores acted as their registered advisors and Alliant Abogados as their legal advisors.