AB-Biotics launches capital increase to fuel international expansion
This Catalan biotechnology company, which is traded on the MAB, aims to raise €4.7 millions.
By Biocat
The Alternative Stock Market (MAB) has given the green light to the capital increase proposed by AB-Biotics, which has been traded on this market since July 2010. This move aims to fuel the international expansion plan they initiated at the beginning of this year.
To do this they will issue and float stock at an initial price of €2.15 per share. The company’s initial goal is to raise up to €4.7 millions. Bankia Bolsa will coordinate this capital increase and act as the placement agent for the operation, as they did for AB-Biotics’ initial public offering on the MAB and their previous capital increase. DCM Asesores will act as their registered advisors and Alliant Advocats as their legal advisors.
In the previous capital increase, closed in December 2011, the company raised €4.3 millions. Since then, AB-Biotics has signed various licensing agreements to market their anti-cholesterol probiotic AB-Life in new markets: in the United States and Canada, through an agreement with Aceto Corporation; in Mexico, Brazil and Venezuela, with pharmaceutical companies Armstrong Laboratories, Biolab and Leti Laboratories, respectively; and in southeastern Europe, with Slovenian company Inspharma. In Spain and Andorra, the product is marketed by Lacer.
“This year we’ve seen the great interest our products arouse abroad and we want to continue working to reach new markets and become an international benchmark in the sector,” explained Miquel Àngel Bonachera and Sergi Audivert, co-founders and CEOs of AB-Biotics.
In addition to signing new licensing agreements for their functional ingredients, the Catalan biotechnology company is also seeking out specialized partners to market their pharmacogenetic analyses like Neurofarmagen abroad.