News

Brain AG raises €60m
Enlarge image

BusinessGermany

Brain AG raises €60m

28.11.2012 - German industrial biotech specialist Brain AG has attracted €60m from its existing investors to beef up for future takeovers.

The capital increase builds one of the cornerstones for the implementation of Brain’s "buy and build“ strategy of industrialisation. A smaller portion of the proceeds will be used to expand the technology platforms of Brain, which are part of projects funded by Germany's federal government.

With its buy and build strategy, Brain tries to cover all steps in the value chain, from research through to product development for market. Brain has already succeeded in building a complete value chain in the field of cosmetics, with the acquisition of Monteil Cosmetics International GmbH. The German biotech company now plans to repeat this success in other areas. It has developed a process that can convert glycerol into 1,2-propanediol. Impure Glycerol is obtained in large quantities in the production of biodiesel and enzymes may convert the alcohol into a de-icing product, which then could be used for de-icing airplane wings. “We have the technology and can organise the production. What we need is someone who has the necessary equipment and has a contract with an airport”, stated Brain’s CEO Holger Zinke.

The money in this financing round comes from existing investors in the company, the family Putsch and the Munich MIG funds. They rely on the current megatrend in the chemical industry: moving away from oil towards biological products and processes. “Recent acquisitions like the purchase of Norwegian Pronova Biopharma by BASF clearly show that the chemical companies with new products move in the direction of the consumer. We want to be part of this movement", says Zinke. On November 21, the world’s largest chemical company announced that it has reached an agreement with Pronova BioPharma ASA’s Board of Directors to make a recommended voluntary public offer, valuing the fish oil producer at NOK4.8bn (€664m).

© eurobiotechnews.eu/bk

http://www.european-biotechnology-news.com/news/news/2012-04/brain-ag-raises-eur60m.html

BusinessGermany

19.09.2014 In order to concentrate on the life science business, German industry giant Bayer is splitting off its plastics subgroup as a separate company.

FinanceSwitzerland

18.09.2014 Swiss biopharma Cardiorentis has received a €45m investment from overseas investment firm Healthcare Royalty Partners in order to finance the registration for its heart drug.

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • ADDEX3.30 CHF6.45%
  • PAION3.17 EUR3.93%
  • SANTHERA90.75 CHF3.07%

FLOP

  • WILEX2.36 EUR-12.27%
  • THERAMETRICS0.08 CHF-11.11%
  • CYTOS0.23 CHF-4.17%

TOP

  • CO.DON3.27 EUR30.8%
  • PAION3.17 EUR27.8%
  • EPIGENOMICS3.80 EUR22.6%

FLOP

  • MEDIGENE3.82 EUR-17.8%
  • ADDEX3.30 CHF-17.5%
  • EVOTEC3.10 EUR-15.5%

TOP

  • SANTHERA90.75 CHF2124.3%
  • CO.DON3.27 EUR280.2%
  • PAION3.17 EUR213.9%

FLOP

  • CYTOS0.23 CHF-94.3%
  • THERAMETRICS0.08 CHF-42.9%
  • BIOFRONTERA2.18 EUR-40.3%

No liability assumed, Date: 21.09.2014