Click here to close now.




















Welcome!

News Feed Item

Advanced Accelerator Applications Completes €41 Million Fundraising

SAINT-GENIS-POUILLY, France, February 17, 2014 /PRNewswire/ --

Highlights

  • HBM Healthcare Investments Ltd invests €20 million
  • The funds will be used to:
    • Accelerate the Company's international expansion, including an increased presence in the US
    • Finance the clinical development of its promising portfolio of innovative Molecular Nuclear Medicine diagnostic and therapeutic products

Advanced Accelerator Applications ("AAA" or "the Company"), a fast growing international specialist in Molecular Nuclear Medicine (MNM), announced today that it had successfully completed a capital increase of €41 million.

This capital increase will help fund expansion plans and finance clinical trials of its promising portfolio of MNM diagnostic and therapeutic products.

The fundraising came from existing and new shareholders, including private investors and funds such as a company of the Tamburi Investment Partners Group and the specialist biotech and pharma investment company HBM Healthcare Investments Ltd who led the investment with €20 million.

Stefano Buono, Chief Executive Officer of AAA, commented: "We are very pleased to have completed this €41 million capital increase which shows strong support from current and new shareholders. The support we continue to receive is testament to the confidence of our shareholders in the continued growth and positive achievements of the Company and its solid business model. The money raised will help us accelerate our international growth, which includes the expansion of our activities in the US, and finance the development of our promising product pipeline. We welcome HBM Healthcare Investments Ltd as a shareholder and believe their experience in backing biotech and pharma will be of great use to guide our strategic directions."

Andreas Wicki, Chief Executive Officer of HBM Healthcare Investments, added: "We are delighted to add AAA to our portfolio of promising healthcare companies.We believe that AAA's approach to targeted therapy is very promising and will further advance innovation and product development in Molecular Nuclear Medicine, a niche which has been poorly exploited until now. AAA is a fast growing company that we are excited to support and to accompany on the way to further success."

AAA develops and commercializes innovative diagnostic and therapeutic products. Its main focus is on molecular imaging and personalized medicines for the treatment of diseases such as cancer. AAA is a European leader in the production and commercialization of PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) products, with 17 production and R&D facilities in Europe, Israel and North America.

The Company has been profitable since 2006 with the sales of its diagnostic products and has used this positive cash flow to finance its growing portfolio of MNM products, including Lu-DOTATATE (Lutathera®), which is currently in phase III clinical trials for the treatment of Gastro-Entero-Pancreatic Neuro Endocrine Tumors (an Orphan disease) in 51 clinical centers in the US and EU. Lutathera® is a true example of a Theragnostic drug, because it integrates diagnostic and therapeutic properties into the same compound, allowing physicians to evaluate and monitor its efficacy using imaging at every therapeutic injection, without any additional costs.

About Advanced Accelerator Applications

Advanced Accelerator Applications (AAA) is a European pharmaceutical company founded in 2002 to develop innovative diagnostic and therapeutic products. AAA's main focus is in the field of Molecular Imaging and targeted, individualized therapy for the management of patients with serious conditions (Personalized Medicine). AAA currently has 17 production and R&D facilities able to manufacture both diagnostics and therapeutic MNM products, and has over 270 employees in 10 countries (France, Italy, Germany, Switzerland, Spain, Poland, Portugal, Israel, U.S., Canada). In 2013 AAA is expecting to reach revenues of €56.6 million (+27% vs. 2012) and EBITDA of €14 million (+49% vs. 2012). For more information please visit: http://www.adacap.com

 

SOURCE Advanced Accelerator Applications

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at @DevOpsSummit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, presented a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mocku...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Graylog, Inc., has added the capability to collect, centralize and analyze application container logs from within Docker. The Graylog logging driver for Docker addresses the challenges of extracting intelligence from within Docker containers, where most workloads are dynamic and log data is not persisted or stored. Using Graylog, DevOps and IT Ops teams can pinpoint the root cause of problems to deliver new applications faster and minimize downtime.
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...