LURE, France & NANCY, France--(BUSINESS WIRE)--Regulatory News:
Vetoquinol (Paris:VETO), a leading player in the animal health sector, and Plant Advanced Technologies PAT, a plant biotechnology company, announce Vetoquinol’s acquisition of an equity stake in Plant Advanced Technologies PAT. The transaction was carried out via a €500,000 reserved capital increase at a price of €25 per share resulting in the veterinary group holding an equity stake of just over 2% in PAT.
Vetoquinol CEO Matthieu Frechin said: “This initial agreement demonstrates our commitment to the biotechnology sector. This investment is in keeping with our innovation strategy aimed at providing our vet customers with solutions for diseases where treatment is still lacking. PAT's ground-breaking technology can be adapted to the animal health sector, particularly in the area of monoclonal antibodies. PAT works on molecules of natural origin that are a potential alternative source of active ingredients for our future drugs.”
Jean-Paul Fèvre, Chairman of Plant Advanced Technologies PAT, commented on the transaction: “We are delighted to welcome an animal health company of Vetoquinol’s stature among our shareholders. This investment is a sign of confidence and recognition of PAT’s expertise in the field of biotechnology.”
Vetoquinol is a leading global animal health company that supplies
drugs and non-medicinal products for the livestock (cattle and pigs) and
pet (dogs and cats) markets.
As an independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region.
Since its foundation in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The Group's hybrid growth is driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets. Vetoquinol employs 2,154 people.
Vetoquinol has been listed on Euronext Paris since 2006 (symbol: VETO).
Next update: 2017 full-year sales - January 23, 2018 after market close.
For further information, go to: www.vetoquinol.com.
About Plant Advanced Technologies PAT
PAT is a plant biotechnology company producing rare, new actives of
plant origin designed for pharmaceutical, cosmetic and agrochemical
PAT exclusive know-how is worldwide patented (PAT plant milking® and Target Binding®).
PAT is listed on Euronext GrowthTM of Euronext Paris (ISIN code: FR0010785790 – Mnemonic code: ALPAT).
Next update: 2017 full-year sales - January, 2018.
For further information, go to: www.plantadvanced.com.