- Ackermans & van Haaren invests 5 million euros in Biotalys
- Private Placement to Fund Regulatory Advances and Product Development
Mon Oct 14 07:15:40 -2024 UTC– Ackermans & van Haaren (AvH) has committed €5 million to a €15 million private placement organized by agricultural technology company Biotalys NV (Euronext Brussels: BTLS). This investment is part of a strategic move announced earlier today by Biotalys to raise capital primarily to support regulatory processes and product development.
Biocontrol Solutions
The capital increase is scheduled for October 16, 2024. AvH’s latest contribution will raise its stake in Biotalys from 12.5% to 15.4%, underscoring the company’s continued confidence in Biotalys’s biocontrol solutions.
Agri Investment Fund
Agri Investment Fund, an existing shareholder, and new investor ASR Vermogensbeheer have also committed €5 million each to the private placement. Together, these investments will help fund regulatory approval applications in the US and EU for Biotalys’s lead product, EVOCA™, as well as the development of its next-generation product, EVOCA NG.
Protein-based Biocontrol Agent
EVOCA™, a protein-based biocontrol agent, is designed to protect high-value fruits and vegetables against botrytis and powdery mildew. Its successor, EVOCA NG, is formulated with enhanced production processes for a competitive commercial edge.