On April 6, 2018, BioGaia became the majority shareholder in MetaboGen with a 62 percent stake. BioGaia has now, after the set milestones have been achieved, decided to further extend its holding, resulting in a shareholding of 92 percent of the shares in MetaboGen. The acquisition value of the additional 30 percent amounts to approximately SEK 27.8 million.
BioGaia will also acquire the remaining eight percent in the company within a three-year period. The additional purchase price can amount to a maximum of SEK 12 million depending on how many milestones are achieved.
BioGaia’s previous investments in MetaboGen
In December 2014 BioGaia reported its decision to invest SEK 12 million in MetaboGen. The investment should be made over a two-year period and included conditions for agreed milestones. The first investment of SEK four million was carried out in December 2014, the second in December 2015 and the third investment in December 2016. BioGaia thereafter owned 36 percent of the share capital of MetaboGen. In April 2018 a further SEK 11.7 million were invested in the company and BioGaia became the majority shareholder in MetaboGen with 62 percent of the shares.
“MetaboGen has quickly achieved the set milestones, which means that we will get a more extensive and even closer cooperation with the University of Gothenburg and Chalmers University of Technology within the hot microbiome area. We are looking forward to these collaborations with confidence,” says Peter Rothschild, Chairman of the Board, BioGaia.
About MetaboGen
MetaboGen was founded in 2011 by Professor Fredrik Bäckhed at the University of Gothenburg and Professor Jens B Nielsen at Chalmers University of Technology, together with GU Ventures, which commercializes research findings and develops companies related to the University of Gothenburg.
In addition to assignments for BioGaia, MetaboGen has a collaboration with the pharmaceutical company Ferring and holds a number of patents and patent applications in the microbiome field. The company has a laboratory in Gothenburg where development of new probiotic strains takes place. Read more on metabogen.se.
Source: Biogaia