Almirall, the international pharmaceutical company headquarted in Barcelona, has reached an agreement with the Spanish biotech company AB-Biotics to enter the share capital of the company listed on the Spanish Alternative Investment Market (MAB). This operation enables Almirall to complement its commitment to innovation through pharmacogenetics and personalised medicine, one of the specialist areas of AB-Biotics.
Almirall becoming part of the share capital of AB-Biotics will enhance the commercial expansion of the pharmacogenetics tests developed by the biotech company. Both companies will be working together on the promotion and commercialisation of Neurofarmagen in Spain from 2013. It is a genetic test that uses DNA extracted from a saliva sample to enable the doctor to identify a patient’s predilection to respond to the most commonly used active principles in the treatment of depression, schizophrenia, bipolar disorder and epilepsy.
The operation will become effective by the subscription by Almirall of 465,115 shares from AB-Biotics, at a value of 2.15 euros per share, as part of the share capital increase that AB-Biotics currently holds open in the MAB and guarantees a minimum shareholding of 5 percent. This capital will go towards financing studies and research programmes in AB-Biotics’s genetics area, and the international expansion of products in this area.
"The entry of Almirall is an important boost for the capital increase has AB-Biotics is currently open,” said Miquel Angel Bonachera and Sergi Audivert, cofounders and CEOs of AB-Biotic. “It is also an example of the growing need of alliances between biotechnology and pharmaceutical companies to promote innovation in health, and this alliance will take our pharmacogenetic tests to a wider audience.”
AB-Biotics’ capital increase
AB-Biotics has currently open a capital increase in the Spanish Alternative Stock Market (MAB). The initial goal of the company with this operation is to raise up to 4.7 million euros to strengthen the international expansion plan started some months ago, after the last capital increase, closed in December 2011. At that time, the company raised 4.3 million euros.
Since then, AB-Biotics has signed several licensing agreements to market its anti-cholesterol probiotic AB-LIFE in new markets in Europe and America, particularly in the U.S. and Canada (through an agreement with Aceto Corporation), in Mexico, Brazil and Venezuela through Armstrong Laboratories, Biolab and Laboratorios Leti SAV, respectively; and in Southeast Europe through Inspharma Slovenian firm. In Spain, the product is marketed by Laboratorios Lacer. In addition to signing new licensing agreements for its functional ingredients, including AB-LIFE, the company has begun the search for specialized partners to market abroad its pharmacogenetic analysis, including Neurofarmagen.
AB-Biotics is a Spanish biotech company focused on the research, development, protection and distribution of proprietary and exclusive biotech solutions that strive to improve people’s health and wellbeing. Its particular areas of activity include the development of pharmacogenetics tests for neuropsychiatry, and probiotics and other functional ingredients for the food and pharmaceutical industry. Since July 2010, AB-Biotics has been listed on the Spanish Alternative Investment Market (MAB), and the company is currently in the initial phase of its internationalisation plan.
Almirall is an international pharmaceutical company based on innovation and committed to health. Headquartered in Barcelona, it researches, develops, manufactures and commercialises its own R&D and licensed drugs with the aim of improving people’s health and wellbeing. Almirall focuses its research resources on respiratory, gastrointestinal, dermatology and pain. Almirall’s products are currently present in over 70 countries in the five continents. It has direct presence in Europe and Mexico through 12 affiliates.