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Era Biotech gains 1.4 M € after a financing round with four Spanish capital risk companies

By 5 de December de 2006November 18th, 2020No Comments
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 05.12.2006

Era Biotech gains 1.4 M € after a financing round with four Spanish capital risk companies

, a company devoted to improving the bioproductivity of recombinant proteins in cell cultures, has ended a financing round for 1.4 million euros. This funding will allow the enterprise to speed up the development strategy for this field of activity.

Announced on 30 November, the operation has been conducted by the capital risk companies Invertec, Reus Capital Riesgo, Talde Capial II and Uninvest, which have participated with individual investments of 300,000 euros in convertible loans. This round has also involved the participation of people and other organizations associated with the company.

“Bioproducts are at the cutting edge of the health, energy and industrial sectors; however, the scale and manufacturing efficiency of these products still falls short of demand”, explained François Arcand, CEO at ERA. “Our investors have recognized that ERA Biotech is developing innovative solutions to directly improve the net results of enterprises with multimillion turnovers”, he added.

ERA Biotech will devote these new funds to the commercialisation of its products aimed at bioproductivity, to improve downstream processing, and to start the development of its products.

Furthermore, ERA Biotech anticipates a financing round “A” of 5 million euros for 2007.