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ACC1Ó grants two million Euros to the Ysios biotech fund

By 30 de July de 2009November 18th, 2020No Comments
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 30.07.2009

ACC1Ó grants two million Euros to the Ysios biotech fund

The Catalan government has approved today, Wednesday July 29th, the investment of two million Euros in the largest capital risk fund specialised in biotech companies in the Spanish market –Ysios BioFund I F.C.R.– comprised by the Ysios Capital Partners venture capital firm, located in the Barcelona Science Park. This operation will enable the Ysios fund to reach a capital volume of over 69 million Euros. This contribution –which will be materialised via the ACC1Ó agency- aims to facilitate the access to financing of biotech companies that are in stages of growth, given that companies frequently encounter difficulties obtaining loans from banks when they are in these phases of business development.

The Ysios BioFund will finance between 10 and 12 biotech companies dedicated to the development of medical technology and therapeutic and diagnostic products, and it is forecasted that approximately 30% of its resources may be invested in foreign companies. Ysios will provide its services to both young companies and companies that are in development and consolidation phases, including spin-offs of pharmaceutical companies.

The objective of the investment policy of Ysios BioFund I F.C.R. is the acquisition of temporary shares in the capital of companies that operate in the health science and biotech sectors and which have an interest in working at an international level, with the aim of accelerating their growth and introduction into international markets.

Investors who have offered their support to this initiative include banks such as Kutxa, Banco Santander, La Caixa, Banesto and Caixa Murcia, amongst others.

The project has also been endorsed by the Navarra Development Society (SODENA), the Catalan Institute of Finances and the National Innovation Enterprise, S.A. (ENISA), public capital organizations that aim to support SMEs in their business development and promotion of innovation.