Advisory | 22.09.2021

We advised on obtaining financing for the development of Biomed-Lublin

Sebastian Bogdan led a team of lawyers advising on the acquisition of financing for development projects by Biomed-Lublin Wytwórnia Surowic i Szczepionek S.A.

The advisory covered cooperation with IPOPEMA Securities S.A. and the Company on the creation of contracts, including the Investment Agreement and the Offering, under which the existing shareholders have successfully provided financing for the Company in the amount of PLN 34 million. The financing was based on the sale, through IPOPEMA, of shares borrowed from the main shareholders of Biomed-Lublin.

The process of obtaining capital in the form of equity was divided into two parts. In the first one, over PLN 21 million was accumulated as a result of the sale by IPOPEMA of 1,734,798 shares at an average price of PLN 12.33 per share. These funds were used to finance the own contribution of the project to create the BCG Biotechnological Innovation Center for the improvement of technologies related to the prevention of tuberculosis and immunology in the treatment of cancer diseases. A subsidy for the implementation was granted by the Minister of Finance, Funds and Regional Policy in the amount of almost PLN 30 million.

The funds from the second part of the capital raising process will be used to finance the project’s own contribution to the implementation of the production of a bladder cancer immunotherapy product. For the implementation of this project, a grant was received from the Polish Agency for Enterprise Development in the amount exceeding PLN 43 million.

Want to know more about the transaction, click on the link.