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EUCODIS Bioscience Receives EUR 2 Million Cash Injection to Enlarge Product Portfolio and Develop International Markets


2/3/2010 6:45:33 AM

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VIENNA, Austria, February 3 /PRNewswire/ -- EUCODIS Bioscience, a company providing customized enzymes to the pharmaceutical, chemical, and other industries, announced today that it has received a cash injection of EUR 2 million from existing shareholders.

The Company will use these funds to swiftly add new enzyme families to its product portfolio and to accelerate the development of international markets. At the same time, EUCODIS Bioscience is expanding its manufacturing capacity in pace with growing customer demand for its novel enzymes.

Commenting on the capital injection Thomas Fischer, CEO of EUCODIS Bioscience, said: "Following several product launches in 2009 and the recent expansion of our lipases family to 20 enzymes we continue to build our order book. Accordingly, our revenues will finance a good part of our expenses and investments this year."

Fischer continued: "Given the wealth of business opportunities in front of us, we are extremely pleased that the cash injection will help us to broaden our product range and to ramp up our sales and marketing efforts."

EUCODIS Bioscience' shareholders Pontis Capital, Wiener Wachstumsfonds, IBG, and ARAX participated in the cash injection.

Harald Schuerz, Managing Director of Wiener Wachstumsfonds, commented: "We are delighted that the market clearly confirms the business model of EUCODIS Bioscience. The commercial focus and the industrial mindset of their team are impressive. In light of their track record and the market potential, this company will soon be an Austrian IPO candidate."

Thomas Moser, Managing Partner at Pontis Capital, commented: "We have been impressed with the progress EUCODIS Bioscience has made in commercializing their experience in enzyme development. In addition, they have established a proven technology for the directed evolution of enzymes and have developed a unique expertise in manufacturing specialty enzymes. This provides the right ingredients to make EUCODIS Bioscience a preeminent supplier to the white biotechnology industry."

About EUCODIS Bioscience

EUCODIS Bioscience GmbH develops, customizes, manufactures, and markets industrial enzymes.

EUCODIS Bioscience' products help customers in the chemical, pharmaceutical, and food and feed industries to make manufacturing processes more efficient and cleaner, and to generate products with superior properties.

EUCODIS Bioscience originally focused on developing enzymes for industrial partners, including GlaxoSmithKline, Henkel, and Lohmann Animal Health. Since 2009, the Company develops and markets its own products.

Led by an experienced management team, EUCODIS Bioscience is backed by Austrian and German institutional venture capital funds, founders, and private investors. The Company is headquartered in Austria, Europe, with a subsidiary in Germany.

For more information, please visit http://www.eucodisbioscience.com

Company contact EUCODIS Bioscience: Thomas Fischer, MBA CEO EUCODIS Bioscience Campus Vienna Biocenter II Viehmarktgasse 2 a/ 2 OG A-1030 Vienna AUSTRIA +43-1-8900804 office@eucodisbioscience.com

Media contact EUCODIS Bioscience: Frank Butschbacher Investor Relations & Communications http://www.butschbacher.net +43-650-7844940 office@butschbacher.net

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