Almirall has reached an agreement with AB-Biotics to enter the share capital of the company listed on the Spanish Alternative Investment Market (MAB). This operation enables Almirall to complement its commitment to innovation through pharmacogenetics and personalised medicine, one of the specialist areas of AB-Biotics.
Almirall becoming part of the share capital of AB-Biotics will enhance the commercial expansion of the pharmacogenetics tests developed by the biotech company. Both companies will be working together on the promotion and commercialisation of Neurofarmagen in Spain from 2013. It is a genetic test that uses DNA extracted from a saliva sample to enable the doctor to identify a patient's predilection to respond to the most commonly used active principles in the treatment of depression, schizophrenia, bipolar disorder and epilepsy. Pharmacogenetics complements Almirall's innovative project portfolio, which is currently focused on respiratory diseases, gastrointestinal disorders and dermatology.
The operation will become effective by the subscription by Almirall of 465,115 shares from AB-Biotics, at a value of EUR 2.15 per share, as part of the share capital increase that AB-Biotics currently holds open in the MAB and guarantees a minimum shareholding of 5.0 per cent. This capital will go towards financing studies and research programmes in AB-Biotics's genetics area, and the international expansion of products in this area.