Cell-in-a-Box and Bac-in-a-Box technologies explained
Cell-in-a-Box and Bac-in-a-Box Capsules
Singapore based Company envisages going public via SPAC merger or traditional IPO
We believe that this is the largest share subscription facility to date for an Asian-based biotech company”
SINGAPORE, April 22, 2021 /EINPresswire.com/ -- Austrianova?(the SG Austria group, Austrianova Singapore and Austrianova Thailand) is pleased to announce that it has signed an Agreement with GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group, to provide Austrianova with a share subscription facility of up to $100 million USD for a 36-month term following a public listing. The share subscription facility, will allow Austrianova, subject to the further terms, to draw down funds by issuing shares of common stock to GEM. Austrianova will control the timing and the maximum?size of such drawdowns and has no minimum drawdown obligation. — Brian Salmons, CEO
Austrianova has issued warrants to GEM, exercisable upon public listing, to purchase up to 4.2% of the common stock of the company.
This announcement occurs as the Company embarks on its next stage of growth in production capacity in order to satisfy the strong demand witnessed across the wide variety of applications that its unique protective cell encapsulation technology addresses. Austrianova was advised on strategic and financial matters by Square Associates (Singapore) and on legal matters by Luther LLP.
"This Agreement with GEM helps secure funding for continued growth and development of Austrianova as we continue to expand the number of partners using our Cell-in-a-Box? and Bac-in-a-Box? technologies" stated Walter H Gunzburg, Chairman of Austrianova. ?With certainty of capital upon listing on a national public stock exchange, Austrianova is now well-positioned as the company enters its next stage of development. We believe that this is the largest share subscription facility for an Asian-based biotech company.? added Brian Salmons, CEO of Austrianova.
About Austrianova
Austrianova (the SG Austria Group), is a biotech company with a global footprint and operations in Singapore and Thailand. Austrianova utilizes a novel and proprietary technology for the encapsulation of living mammalian (Cell-in-a-Box?) and bacterial (Bac-in-a-Box?) cells. Cell-in-a-Box? protects the encapsulated cells from rejection by the immune system, allows cells to be easily transported, stored and implanted at specific sites in patients. The technology, which has been proven safe and efficacious in clinical trials carried out in Europe, allows companies to develop any kind of cells as a one-for-all living pharmaceutical. Bac-in-a-Box? is a similar protective device adapted for encapsulation of probiotic bacteria where it has human food and animal feed applications as well as rebalancing the microbiome due to its ability to extend storage under lyophilized conditions and to protect encapsulated bacteria against destruction by stomach acid. Austrianova now also offers GMP4Cells that includes competitively priced Master Cell Bank and Working Cell Bank production as well as ?Fill and Finish? services for cell therapy products (such as stem cell therapies, biologics produced from cells e.g. vaccines, antibodies, enzymes, recombinant proteins, exosomes etc).
About GEM
Global Emerging Markets (?GEM?) is a $3.4 billion, alternative investment group with offices in Paris, New York, Nassau (Bahamas), and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information:?http://www.gemny.com
Forward-Looking Statements
This release includes forward-looking statements regarding Austrianova (the Company) and its respective businesses. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, including completion of the public offering, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks affecting the Company, economic factors and the equity markets generally. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Austrianova undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. This is not an offer or solicitation to buy or sell any securities.
SOURCE Austrianova
Financial Information Contact: pierre.faddoul@square-associates.com
Brian Salmons
Austrianova
salmons@sgaustria.com
