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

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Stock marketNetherlandsUKBelgium

10.07.2014 Not one but two biopharma companies are seeking entry into the stock market: After Abzena raised €25m in an IPO earlier this week, Argen-x has followed suit and sold shares worth €40m.

M and AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn). So far, Shire has rejected all offers from the US company.

M and ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NOVACYT (F)4.98 EUR5.96%
  • STALLERGENES (F)53.50 EUR4.37%
  • MORPHOSYS (D)72.25 EUR3.96%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • OREXO (S)137.00 SEK-5.35%

TOP

  • WILEX (D)3.10 EUR307.9%
  • SANTHERA (CH)67.95 CHF88.7%
  • ADDEX (CH)4.03 CHF79.9%

FLOP

  • MERCK KGAA (D)64.38 EUR-49.4%
  • HYBRIGENICS (F)1.77 EUR-27.5%
  • CHRONTECH PHARMA (S)0.07 SEK-22.2%

TOP

  • SANTHERA (CH)67.95 CHF3457.6%
  • GW PHARMACEUTICALS (UK)419.75 GBP715.0%
  • PAION (D)2.77 EUR313.4%

FLOP

  • CYTOS (CH)0.26 CHF-92.4%
  • EVOCUTIS (UK)0.21 GBP-91.8%
  • THROMBOGENICS (B)9.54 EUR-69.5%

No liability assumed, Date: 27.07.2014