Vive Biotech Contacts Santander to Find a Buyer

The Basque company Vive Biotech seeks to develop its infrastructure. The start-up dedicated to the development and manufacturing of lentiviral vectors has hired Santander to search for an investor that will allow it to deploy a new production plant that will increase its performance, as Expansión reported this morning.

In statements to the same medium, the Spanish biotechnology company has assured that it has accumulated growth of approximately 60% until September, managing sales by the end of the year of around €15 million, as well as an EBITDA that it expects to be around between two and the three million euros. If with the current production capacity the company expects to earn €25 million annually, with the new plant it hopes to triple this figure.

A viral vector is a modified virus that functions as a vehicle to introduce genetic material into the nucleus of a cell. In gene therapy, which is the activity to which the company located in San Sebastián is dedicated, the genes that give the virus its infectious and pathogenic capacity are eliminated, and only those that participate in the insertion of the genetic material remain.

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If with the current production capacity Vive Biotech expects to earn €25 million annually, with the new plant it will seek to triple this figure

Vive Biotech has assured that “we have stable and large international clients and projects that allow us to consolidate our structure and continue growing sustainably, positioning our company and our territory at the forefront of the medicine of the future on a global scale,” as stated in its description.

In July 2020, Vive Biotech invested €4.5 million in the construction of a new production center located in the Guipúzcoa Science and Technology Park in San Sebastián, moving from an infrastructure of 1,200 square meters and a single clean room to a space of 2,700 square meters with seven clean rooms. Specifically, clean rooms are spaces specially designed to obtain low levels of contamination and are ideal for the process developed by Vive Biotech.

Founded in 2015, the company is controlled by its founders, although since 2020 Inverready (13.4%), the Kutxa Foundation (12.3%), and the Cdti (10.7%) also participate in the shareholding. In fact, the construction of the new center includes the purchase and sale of securities and a capital increase, in which the current partners would be willing to give up the majority of their shares.

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(Featured image by BarbeeAnne via Pixabay)

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

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