Expedeon AG secures GBP 5 million in debt financing
Expedeon AG secures GBP 5 million in debt financing
Agreement provides access to growth capital
Heidelberg, Germany and Cambridge, UK, 30 August 2018 – Expedeon AG (Frankfurt: EXN; ISIN: DE000A1RFM03; Prime Standard) today announced it has secured a debt facility of GBP 5 million (approx. EUR 5.6 million) from BOOST&Co, a London, UK based growth capital provider. This facility gives Expedeon access to alternative non-dilutive means of financing of the Company’s rapid growth plans.
“Through successful execution of our innovation-driven ‘Grow, Buy and Build’ strategy aimed at delivering sustained organic growth, Expedeon is now going through a strong growth phase. Previously, the Company needed to rely on equity as the sole financing method for its growth strategy. As Expedeon is moving into profitability and cash generation, other sources of growth finance are becoming available,” said Dr. Heikki Lanckriet, CEO and CSO of Expedeon.
David Roth, CFO of Expedeon, commented: “This is an exciting move forward for Expedeon; our strong growth strategy has been successful in reshaping the Company and delivering positive EBITDA for the current year. Securing debt finance now allows us to continue to fund our strategy in a non-dilutive manner.”
Joanna Scott, Principal at BOOST&Co, commented: “Expedeon is a company with a growing portfolio of innovative products that now occupies a unique position in its market and we are excited to be working with this ambitious management team to help them achieve their growth and expansion plans.”
Over the last two years, Expedeon delivered strong organic growth and an increasing acquisition-driven market share, driven by synergistic portfolios of technologies and customers. For 2018, the management of Expedeon anticipates revenues of EUR 13 to 14 million, an increase of at least 67% against 2017 reported revenues, and expects an overall positive EBITDA for the year.
For further information, please contact:
Expedeon AG
Dr. Heikki Lanckriet
CEO/CSO
Phone: +44 1223 873 364
Email: heikki.lanckriet@expedeon.com
MC Services AG (Investor Relations and International Media Relations)
Raimund Gabriel
Managing Partner
Phone: +49 89 210228 0
Email: expedeon@mc-services.eu
About Expedeon AG: www.expedeon.com
Expedeon is an enabler of exciting advances in medical science and patient care. The Company’s core technologies, innovative products and services are used in research laboratories around the world, enabling scientists to push the boundaries of research and product development, and play an integral part in new diagnostic tools being brought to market. With applications spanning the entire workflows in genomics, proteomics and immunology, Expedeon’s technologies both accelerate and simplify research and make new and cost-effective processes available to biopharmaceutical and diagnostic organisations alike, thereby underpinning its customers’ development and commercialisation objectives. Expedeon’s products are sold through a direct sales force and several distribution partners in Europe, the USA and Asia. Expedeon AG has offices in Germany, Spain, UK, USA and Singapore. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: EXN; ISIN: DE000A1RFM03).
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of Expedeon AG may deviate greatly from the established conclusions or implied predictions contained in such statements. Expedeon does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###
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