BIP Sells BIC Incubator to Innova, Refocuses on Core Innovation Areas

Biovalley Investments Partner spa (BIP), a Trieste-based industrial holding company active in the research and marketing of orphan drugs and investments in innovative technologies for medicine, life sciences, and digital, has sold its 100% stake in BIC Incubatori FVG srl to Innova spa, a leading company in hardware and software design and the supply of technologies for law enforcement investigative activities. The Trieste-based incubator, active since 1989, currently employs over 370 people in more than 40 companies, with an aggregate turnover exceeding €85 million.

BIP and Innova are both long-time users of BIC services and have their respective headquarters on the Trieste campus. BIP will continue to benefit from these services and will collaborate with Innova in identifying investment opportunities in innovative companies and startups.

The transaction was assisted for Innova by the North East Consulting firm and the Panella Spadetto law firm, while BIP availed itself of the Andrea Bitetto firm.

BIP, founded in 2016 and recognized as an innovative SME, operates through two complementary Business Units: BioTech & Pharma and BioICT

BIP acquired BIC Incubatori FVG in 2021, when it approved a capital increase for a total of 5.1 million euros, of which 2 million in cash reserved for BIP shareholders and third parties and 3.1 million in kind, i.e. through a contribution, reserved for Friulia spa, the regional financial company that promotes the economic development of Friuli Venezia Giulia, which had invested by contributing 100% of the capital of BIC Incubatori FVG.

Friulia had already been a shareholder in BIP since 2015 , when it invested 500,000 euros as part of a 1.7 million euro capital increase. To date, Friulia, with an 18.56% stake, is BIP’s second largest shareholder. Its main shareholder, with a 26.98% stake, is Biovalley Group spa, which is in turn 50.17% controlled by founder Diego Bravar, also founder of TBS Group spa, a company that designs and manages clinical engineering services. Bravar successfully listed on the stock exchange and was then delisted by Althea (controlled by Permira) in August 2017 following a 100 million euro takeover bid. Althea was then resold to F2i sgr and DWS in 2022.

BIP’s shareholders also include investors in two equity crowdfunding campaigns concluded on the CrowdFundMe platform: one in January 2021, with a €1.66 million raise based on a pre-money valuation of €10 million , and the other at the end of 2025, with a raise of just over €780,000 , based on a pre-money valuation of €17.6 million.

Not only that. It should be noted that in 2022, also on CrowdFundMe, but in the section dedicated to debt instruments, BIP placed a €1.7 million minibond, which was subscribed by 14 investors, €1.5 million of which was from the PMI Italia II private debt fund managed by Finint Investments sg r. The resources were intended to complete the pharmaceutical plant of its subsidiary Serichim and to purchase a minority stake in a private healthcare ICT company.

Regarding the sale of BIC, BIP President Diego Bravar commented: “The investment in the incubator’s digitalization has opened unexpected prospects for the continuation of its operations, which we trust will lead to significant growth. Innova has a long-standing relationship with the incubator and, among local companies, is certainly the one that best represents a virtuous growth path in the ICT sector. Innova is therefore the ideal guide to capitalize on BIC’s investment in modernization and digitalization in recent years.”

And Innova President Nicola Salina stated: “For Innova, taking over BIC’s legacy represents a historic and, at the same time, highly symbolic step. It demonstrates that in Trieste, it is possible to build paths of success and continued growth by focusing on technology and innovation. Innova is moving from a startup incubated at BIC to a company capable of contributing significantly to the region’s development.”

The sale of BIC follows the sale of Logic a year ago for €1.8 million. The resources and energy freed up by the sale of BIC will now be directed toward BIP’s flagship products, particularly the growth of the business dedicated to the safe transport and storage of hydrogen and the pharmaceutical business related to AI-based medical IT systems and robotic instrumentation for oncology therapies, particularly its flagship product, the ChemoMaker robot for the automated preparation of personalized chemotherapy drugs, which is currently installed in 23 Italian hospitals, including the Aviano CRO, and has sold 25 units in seven European countries.

__

(Featured image by Daniel Sebler via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Be Beez. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.