Investissement Quebec Acquires a Stake in Prevtec Microbia
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 09/21/15 -- Biotechnology and Animal Health - Prevtec Microbia announced today that Investissement Quebec has made a $2.5 million equity investment in the company. The investment is part of a round of financing for $7.2 million in which the other partners are German venture capital fund PIH Pharma Industry Holding GmbH, Telesystem Ltd., Groupe Jafaco Gestion Inc. and Desjardins-Innovatech, S.E.C.
"The global push to reduce the use of antibiotics in animals opens up a huge market for Prevtec Microbia," said Jacques Daoust, Quebec''s Minister of the Economy, Innovation and Exports. "This equity investment in conjunction with investments by other financial partners is yet another illustration of the Quebec government''s new economic strategy."
Investissement Quebec chose to invest in Prevtec Microbia to support the company''s efforts to market the Coliprotec®-F4 vaccine in Europe. Developed entirely in Quebec, Coliprotec-F4 is Canada''s first licensed live vaccine against post-weaning diarrhea in swine.
"Our investment will help accelerate the commercialization of an innovative animal health technology," underscored Pierre Gabriel Cote, President and Chief Executive Officer of Investissement Quebec. "The strong commercial potential of Prevtec Microbia''s oral vaccine could mean important economic benefits for Quebec. This investment is fully in line with Investissement Quebec''s venture capital strategy."
The target market represents a potential 250 million animals per year. The investment will also help to finance the approval of another vaccine in Europe.
"We are very pleased that Investissement Quebec has chosen to support our growth," said Michel Fortin, President and Chief Executive Officer of Prevtec Microbia. "This investment will enable us to complete our strategic development and - as outlined in our five-year plan - to position ourselves in 12 countries on four continents, with three innovative products commercialized.
About Prevtec Microbia
Prevtec Microbia is a Canadian biotechnology company developing biological products for the prevention of diseases in food animals. The Company''s mission is to find better ways to feed the planet by developing technologies that improve animal health and increase animal production performance.
Prevtec Microbia''s first commercial product, Coliprotec®F4, a swine E. coli vaccine, has been sold across Canada since 2008. In March 2015, the European Committee for Medicinal Products for Veterinary Use issued a positive opinion recommending the granting of a market authorization for Coliprotec F4 in the European Union. See more information at .
Contacts:
Sources:
Michel Fortin
President and CEO
+1 514-905-0401
Christian Roy
Finance Manager
+1 514-905-0402
Chantal Corbeil
Spokesperson
Investissement Quebec
514 873-7161
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Datum: 21.09.2015 - 07:09 Uhr
Sprache: Deutsch
News-ID 1386783
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