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Advanced Accelerator Applications S.A.. (2/17/14). "Press Release: Advanced Accelerator Applications Completes €41 Million Fund Raising". Saint-Genis-Pouilly.

Organisations Organisation HBM Healthcare Investments AG
  Group HBM (Group)
  Organisation 2 Advanced Accelerator Applications S.A. (Nasdaq: AAAP)
  Group Novartis (Group)
Products Product RADIOPHARMACEUTICAL
  Product 2 venture capital
Index term Index term Advanced Accelerator Applications–SEVERAL: investment, 201402 financing round €41m capital increase led by HBM Healthcare w €20m
Persons Person Buono, Stefano (Advanced Accelerator Applications 201402 CEO)
  Person 2 Wicki, Andreas (HBM Healthcare Investments 201402 CEO)
     


Highlights

o HBM Healthcare Investments Ltd invests €20 million

o The funds will be used to:

o Accelerate the Company's international expansion, including an increased presence in the US

o 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 Molecular Nuclear Medicine 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 Molecular Nuclear Medicine products, including Lu-DOTATATE (Lutathera®), which is currently in phase III clinical trials for the treatment of Gastro-Entero-Pancreatic Neuro Endocrine Tumours (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: www.adacap.com


About HBM Healthcare Investments Ltd

HBM Healthcare Investments actively invests in the human medicine, biotechnology, medical technology and diagnostics sectors and related areas. The company holds and manages an international portfolio of some twenty five promising companies. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided on their strategic directions. This is what makes HBM Healthcare Investments an interesting alternative to investing in big pharma and biotech companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN). For more information please visit: www.hbmhealthcare.com


About Molecular Nuclear Medicine (MNM)

Molecular Nuclear Medicine is a medical specialty using trace amounts of active substances, called radiopharmaceuticals, to create images of organs and lesions and to treat various diseases, like cancer. The technique works by injecting into the patient's body targeted radiopharmaceuticals that accumulate in the organs or lesions that reveal specific biochemical processes.

Molecular Nuclear Diagnostics employs a variety of imaging devices and radiopharmaceuticals. PET (Positron Emission Tomography) and SPECT (Single Photon Emission Tomography) are highly sensitive imaging technologies that enable physicians to diagnose different types of cancer, cardiovascular diseases, neurological disorders and other diseases in their early stages.

Theragnostics is today used to define "companion drugs". This means that a therapeutic drug is developed and is approved to be used together with a diagnostic test. The test can tell you if the drug is suitable for a specific disease in a specific patient and checks if the treatment could be effective, thus increasing the cost-effectiveness of the whole treatment. MNM gives the perfect meaning to the word "Theragnostics" because it can integrate diagnostics and therapeutics properties into the same single drug and it is a key discipline in the transition from population-based to personalized medicine.


Contacts


Advanced Accelerator Applications SA

Laetitia Defaye
Head of Corporate Communications
laetitia.defaye@adacap.com
Tel: +33 (0)6 86 65 73 52

Véronique Mermet
Communications Officer
info@adacap.com
Tel: +33 (0)4 50 99 30 70


Media enquiries

FTI Consulting (UK)

Stephanie Cuthbert
Stephanie.Cuthbert@fticonsulting.com
Tel: +44 (0)20 3077 0458
Julia Phillips
Julia.phillips@fticonsulting.com
Tel: +44 (0)20 7269 7187


iCorporate (Italy)

Elisa Piacentino
elisa.piacentino@icorporate.it
Tel: +39 02 4678754 -
+39 366 9134595

Rita Arcuri
rita.arcuri@icorporate.it
Tel: +39 02 4678753 -
+39 333 2608159

   
Record changed: 2018-01-28

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