Biotech player Brain gets boost from investor
DAH Beteiligungs has subscribed to a total of 1,641,434 new-registered no-par-value shares, which corresponds to a 10% share of the company’s total capital.
As part of Brain’s future expansion plans, company executives say that the boost to its funds will help to fund a new acquisition that will give the company scope for further expansion in the future.
One of Brain’s primary focuses is the cosmetics and personal care arena, for which it develops natural-based bioactive ingredients that mainly target the skin care category.
Investing in sustainability
The company is also aiming to make its business model more sustainable by investing in production processes that are both more efficient and better for the environment.
“The aim is to reduce the dependency on valuable, limited raw materials in favour of more sustainability, nature and climate protection,” said Dr Juergen Eck, CEO of Brain.
“Examples of this are our DOLCE program for the reduction of sugar consumption, our BioXtractor system for the extraction of precious metals from waste streams, or the use of the greenhouse gas carbon dioxide as a raw material.“
More biotech products planned
The investment by Beteiligungs’ capital comes 18 months after the company’s initial IPO and will increase the company’s share capital from Euros 16.4 million to Euros 18 million.
“Brain has been pursuing a successful growth strategy for several years,” said Frank Goebel, CFO of Brain.
“The goal is, in addition to intensifying research collaborations with industrial partners, to develop and market our own biotechnological product candidates. In line with this strategy, the proceeds from the capital increase shall primarily be used to finance small and medium-sized acquisitions. Consequently, also our shareholders will benefit from our sustainable corporate strategy.”
