LEUKOCARE Announces EUR 3.4 M Capital Increase
LEUKOCARE has announced the successful completion of its capital increase of EUR 3.4 million. New ordinary shares were issued to existing shareholders and new investors in exchange for a combination of new equity capital and the conversion of an outstanding EUR 1.0 million corporate bond.
“This fundraising together with our increasing revenues allows us to accelerate the growth of our business and to drive the development of markets for our proven technology portfolio” explained Michael Scholl, CEO of LEUKOCARE.
Scholl continued, “It ensures the financial independence and operational flexibility of LEUKOCARE to reach the next milestones in the development of the company. In particular, in the next 2 years, we expect industrial partners in the fields of vaccines, combination products and biopharmaceuticals to start commercializing products employing our technologies. We are encouraged by the enthusiasm of our partners who have successfully evaluated LEUKOCARE’s technology platform and have initiated major product development efforts by licensing our proprietary technology and know-how.”
Based on LEUKOCARE’s Stabilizing and Protecting Solutions (SPS), biopharmaceutical products and vaccines can be significantly improved in respect to storage stability and quality.
Moreover, SPS allows terminal sterilization of biologics and of medical devices functionalized by biologically active substrates, including implant surfaces, wound dressings, and others.
LEUKOCARE’s recently submitted annual report stated a revenue growth of approx. 50 % representing the third consecutive year with an equivalent expansion rate.