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
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...