InterMed Discovery (IMD), an emerging world class natural product lead-discovery company, today announced the close of an equity transaction worth €7.44 million with Biotropics Malaysia Berhad. The round underlines the long-term Strategic Cooperation Agreement between the two Companies, which was announced in September 2008 as a combination of purchase and capital increase. In addition, the agreement solidifies a minority stake held by Biotropics in IMD.
The round strengthens IMD’s financial position and paves the way for the next strategic steps in IMD´s development. The money raised in this financing round will be invested in the discovery and development of further functional ingredients and will also be used to co-fund IMD’s pharmaceutical pipeline. In return, the participation provides Biotropics access to IMD’s natural product data base and technology to identify, develop and market suitable active natural ingredients exclusively in key markets including United States and Europe.
“Following IMD’s cooperation agreement with Cognis in February 2008, this additional investment from our strategic partner, Biotropics Malaysia Berhad, will further leverage the discovery and development of innovative natural products and will help to expand our pharmaceutical pipeline,” announce the managing directors of InterMed Discovery Bernard Becker and Dr.Thomas Henkel .“Such endeavours are the logical and consequent next step in boosting IMD’s business model and we look forward to continuing our work with Biotropics.”
“We are excited to strengthen our partnership with IMD and increase our participation in the dynamic global life-sciences industry. This investment is an important milestone for Biotropics as it will strengthen our value-added activities and serve as a synergistic relationship for potential growth in know-how, capacity building and business opportunities”, said Abu Bakar Ibrahim, Director of Biotropics.
About InterMed Discovery
InterMed Discovery is an emerging world class natural product lead-discovery company, driving innovation through the generation of novel product candidates for the life science, food and cosmetics industries. Using one of the most powerful validated natural product discovery engines, InterMed Discovery generates proprietary product pipelines of early stage pharmaceuticals and functional ingredients and also supports partners in research and lead generation for various applications in the life science industry. Biologically characterised product leads are identified using IMD BIOPROFILING® and NPSILICO®, which together comprise a proprietary bioinformatics platform drawing on screening results compiled over many years, complemented by primary biological and chemical research on natural products. InterMed Discovery adds to this the industry’s largest collections of pure compounds, sample fractions and mixtures as its source for potential natural product leads. The Company is located in Dortmund, Germany and was founded in 2006 as a management buyout of the Natural Products Research Unit of Bayer Healthcare. Further information on InterMed Discovery can be found at www.intermed-discovery.com.
About Biotropics Malaysia Berhad
Realizing the vast commercial potential residing in Malaysia’s wealth of biological resources and traditional wisdom, Biotropics Malaysia Berhad was specifically set up to explore, harness and develop products utilizing nature’s gift for the benefit consumers around the world.
With a strong emphasis on R&D, Biotropics Malaysia Berhad develops and promotes herbal-based products by combining state of the art science with Malaysia’s unique health traditions and rich biodiversity to develop innovative products scientifically tested and verified to meet the highest safety and quality standards globally. The target products range includes standardised extracts; dietary supplements; ingredients for functional foods, nutraceuticals and cosmeceuticals; herbal medicines and botanical drugs. For more information, please visit www.biotropics-malaysia.com