PFR Life Science invests in biotechnology by acquiring the shares of Mabion S.A.

PFR Life Science invests in biotechnology by acquiring the shares of Mabion S.A.

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PFR Life Science, a special purpose vehicle of the Polish Development Fund, carried out another investment in the biotechnology sector by participating in a private issue of the shares of Mabion S.A., a Polish company specialising in the technology of biosimilar medicines. In the issue, the company acquired funding in the amount of PLN 174.8 million, which constitutes 16% of its share capital. PFR Life Science acquired new company shares of the value of PLN 38.3 million. The remaining shareholders in the issue were investors from the United States and the European Bank for Reconstruction and Development.

The company intends to use the funds obtained from the issue for, among others, the expansion of the Research and Development Centre in Konstantynów Łódzki, and to cover the costs connected with the development and commercialisation of the drug Mabion CD20, an oncology drug biosimilar to the preparation MabThera/Rituxan, used in the treatment of blood cancer (lymphomas, leukemias) and rheumatoid arthritis.

“Mabion is a company which fits very well with the investment strategy of PFR Life Science - it is stable, with an established position, and at the same time innovative, working on a cure for leukaemia and lymphoma which will soon, thanks to the funds acquired from investors, have the chance to enter the global markets. We are glad that we can support leading biotechnology companies in implementing ambitious development plans that may, in the near future, lead to the creation of original Polish medicines and innovative technologies” - said Paweł Borys, President of the Management Board of the Polish Development Fund.

This is the second investment of the PFR Group in the biotechnology market. At the beginning of March, the company PFR Life Science acquired a block of shares of Selvita S.A., one of the largest innovative biotechnology companies in Europe, with a value of almost PLN 40 million.

“The biotech sector is one of the key sectors for the development of the Polish economy specified in the Strategy for Responsible Development. The Polish Development Fund Group, through PFR Life Science, is planning to invest a total of up to PLN 300 million in selected biotech companies, assuming an average size of investment between PLN 30 and 50 million. The investment activity in this sector is supported by industry experts who help assess the innovation and attractiveness of the development plans of selected companies” – said Marcin Piasecki, Vice President of the Management Board of the Polish Development Fund.

A direct investor in Mabion S.A. will be the company PFR Life Science Sp. z o.o. whose sole shareholder is, co-financed by Polski Fundusz Rozwoju S.A., Fundusz Inwestycji Polskich Przedsiębiorstw Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych (Fund of Investments of Polish Companies Closed Investment Fund of Non-Public Assets), managed by PFR Towarzystwo Funduszy Inwestycyjnych S.A.

Mabion S.A. is a leading Polish biotechnology company established for the placing on the market of biotechnological medicines of the latest generation based on humanised monoclonal antibodies. This technology, independently developed at Mabion, is high-tech at the highest global level. The process of humanising the monoclonal antibodies, which is a superior achievement of today’s biotechnology, allows for producing targeted drugs that selectively affect cancerous cells, ensuring better efficiency and less toxicity in the therapy. Mabion, as one of few biopharmaceutical companies, has the competencies for the comprehensive development and implementation of any biotechnological medicines - from the design phase, through the selection of platform and technology, to the launch and registration of the finished drug. Currently, in its laboratories, the company is conducting research and development on several biotechnological medicines used in the treatment of cancer and inflammatory diseases. More information: www.mabion.eu

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The Polish Development Fund Group is a group of financial institutions offering instruments supporting the development of enterprises, local governments and individuals, investing in sustainable social and economic development. It has a professional team and follows top international standards. PFR’s mission is to implement programs which improve the long-term investment and economic potential of Poland, foster equal opportunities and environmental protection. For more information, visit: www.pfr.pl

PFR Life Science Sp. z o.o. is a portfolio company of the Fund, part of which is managed by the PFR, whose purpose is to invest in biotech companies, in particular those operating in the area of the development of innovative medicines.

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