BV Group to raise CHF 10m for Finox

As part of the deal, BV Group will take a 13.89% stake in pharmaceutical company Finox.

The buyout firm will issue 1,745,255 new shares, with each preference share priced at a subscription price of CHF 5.90. The application period for subscription is between 23-30 September. The shares will start trading on the BX Berne eXchange.

BV Group's proceeds from the issue are expected to be an estimated CHF 22m.

The new capital will be used to begin clinical trials in the US for the biosimilar of a follicle-stimulating hormone (rFSH) called Bemfola, which may be used in fertility therapies.

Finox is currently seeking the approval for Bemfola to enter the European and US market, which it expects to reach by Q3 2014 and 2016, respectively.

Finox is headquartered in Burgdorf, Switzerland, and was founded by Willy Michel in 2007.

Patrick Schär is CEO of BV Group.

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• Topics
• DACH
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• Expansion
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