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

DiabetesFrance

01.09.2015 Sanofi is partnering up with Google’s life sciences team with an ambitious goal: to change the face of diabetes management.

M&ASwitzerlandFrance

31.08.2015 In order to boost its active cosmetic ingredients business, the Swiss flavour and fragrance giant Givaudan has acquired Volketswil-based Induchem Holding and all its subsidiaries.

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Research and DevelopmentFranceGermany

07.08.2015 In a deal worth more than €300m, Sanofi has partnered up with German drug discovery and development company Evotec in order to develop beta cell-modulating diabetes therapies.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • 4SC (D)3.54 EUR10.62%
  • DEINOVE (F)7.10 EUR7.25%
  • NANOBIOTIX (F)18.43 EUR5.62%

FLOP

  • BIOTIE THERAPEUTICS (FI)0.20 EUR-9.09%
  • OREXO (S)45.30 SEK-8.67%
  • TIGENIX (B)1.12 EUR-7.44%

TOP

  • KARO BIO (S)40.60 SEK2502.6%
  • BIOTECH PHARMACON (N)17.40 NOK84.5%
  • TRANSGENE (F)4.86 EUR73.6%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • BIONOR PHARMA (N)1.17 NOK-44.0%
  • NEUROVIVE PHARMACEUTICAL AB (S)12.85 SEK-43.4%

TOP

  • KARO BIO (S)40.60 SEK4566.7%
  • ADOCIA (F)85.64 EUR389.7%
  • VERONA PHARMA (UK)4.95 GBP312.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-85.7%
  • NEUROVIVE PHARMACEUTICAL AB (S)12.85 SEK-80.2%
  • BIOTEST (D)20.00 EUR-77.0%

No liability assumed, Date: 02.09.2015