Vytrus Biotech Raises 2.3 Million Euros to Finance its Strategic Plan

Vytrus Biotech continues to grow. The biotechnology company has closed a capital round of 2.3 million euros, between a capital increase and the sale of shares, in which it has increased and renewed part of its shareholding.

A part of the funds, 1.2 million euros, have been raised through the capital increase that has been led by Boyser, a family office linked to one of the founding families of Fluidra and in which minority shareholders have also participated. The price of Vytrus Biotech capital increase was established at 2.37 euros per share.

The funds raised in the capital increase will be used by Vytrus Biotech entirely to finance the company’s expansion , mainly focusing on inorganic operations and the introduction of new technologies. Vytrus has also brought in several institutional investors as shareholders, who will jointly hold around 5% of the capital. The operations have been carried out through the purchase and sale of shares in the block market for an amount close to 1.1 million euros, carried out at the same price as the capital increase.

Vytrus Biotech reinforces, in this way, its shareholder pool , with the aim of accompanying the expansion planned in the Strategic Plan until 2027. After the financing round, the founders of Vytrus, Albert Jané and Òscar Expósito, jointly hold 34% of capital .

Vytrus Biotech has received advice from GVC Gaesco and IMB Grup

For its part, Zamit capital, one of GVC Gaesco’s investment funds that became a shareholder in December 2021, increases its participation to 8.5%. Boyser will join the shareholder pool with 6.5% . Julia Patrimoni, the family office of the Perfumerías Julia group, has also participated in the financing round and maintains its participation at 5.4%. The Institut Català de Finances holds 5.8% of the capital after the round.

Jané has stated that “with this round of capital, we consolidate a pool of top-level shareholders, who will be key in the company’s expansion strategy in the coming years.” In the financing round GVC Gaesco Valores has acted as Registered Advisor and as Agent Entity of the Company and the firm IMB Grup as legal advisor.

Vytrus Biotech plans strong business expansion in 2024

Vytrus Biotech obtained a global growth of 32% in sales in the first quarter of 2024 compared to the same period in 2023, led by the recovery of the United States and European markets at the beginning of the year, whose sales increased by 35% .

The growth of the first quarter has boosted Vytrus Biotech’s year-on-year sales, which have exceeded four million euros for the first time in its history. These data drive the forecasts of the biotechnology company, which recently published its Strategic Plan, with which it hopes to multiply its sales by three, reaching twelve million euros, and by four its gross operating result (ebitda) to five million euros. in 2027.

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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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