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Biotalys Raises €7 Million Through Private Investment

Biotalys Advances Manufacturing of Biocontrol Product Evoca

Biotalys NV (Euronext Brussels: BTLS), an innovative Agricultural Technology (AgTech) company dedicated to developing protein-based biocontrol solutions for crop and food protection, announced today that it has successfully secured subscription commitments totaling €7 million through a private investment in a public equity (PIPE) transaction.

The transaction involves issuing 1,135,257 new shares, which amounts to approximately 3.67% of the company’s shares outstanding before the transaction. The shares will be issued for €6.166 per share, representing a premium of roughly 1% compared to the closing price of the Biotalys share on Euronext Brussels on Tuesday, 6th June 2023.

The investors are existing shareholders Agri Investment Fund BV (AIF), a private equity and venture capital fund backed by the Belgian Farmers Union (Boerenbond), and the Belgian Sovereign Wealth Fund Federale Participatie- en Investeringsmaatschappij NV (SFPIM). AIF is focused on investing in AgTech and Agro-Food companies that contribute to a more robust and sustainable agriculture and horticulture sector.

Biotalys plans to nominate AIF’s CEO, Patrik Haesen, to its Board of Directors as part of the commitment to strengthen the relationship with AIF. Haesen’s proposed nomination aligns with AIF’s ambition to back companies developing innovative solutions for the agricultural market.

“We strongly believe in the need for new tools to safeguard farmers’ yields while minimizing environmental impact,” said Patrik Haesen, AIF’s CEO. “We are committed to continuing our support for Biotalys as a long-term partner, providing financial assistance, a broad network, and professional agricultural sector advice.”

Patrice Sellès, Biotalys CEO, welcomed the investment, saying, “This additional support from our current shareholders takes us one step closer to our goal of providing growers around the world, particularly in Belgium, with innovative and cost-efficient solutions.”

Biotalys is developing a diverse pipeline of biocontrol products to address significant crop pests and diseases. The company’s proprietary AGROBODY™ technology platform supports this development by offering solutions against various targets, including fungi, harmful insects, and bacteria causing significant crop losses.

The €7 million raised will be allocated to:

  • Expand and advance the company’s pipeline, potentially also through partnerships;
  • Continue platform development and intellectual property capture to enhance the competitiveness and efficiency of Biotalys’ AGROBODY Foundry™ platform;
  • Support market calibration and prepare for future commercial launches of its first product candidate, Evoca™, with field trials, manufacturing scale-up, and regulatory approvals;
  • Acquire key talent.

The new shares are set to be paid for and delivered on Monday, 12th June 2023, after which they will be listed on Euronext Brussels. The new shares will carry the same rights and benefits as the existing shares of Biotalys.

As a result of the new shares issuance, the company’s share capital will rise by €1,634,136, from €44,564,320 to €46,198,456. Consequently, the total number of issued and outstanding shares will increase from 30,959,454 to 32,094,711, representing a 3.67% increase in the number of shares outstanding.

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