Cells

Advanced Accelerator Applications completes EUR41m fundraising

Advanced Accelerator Applications, a specialist in molecular nuclear medicine (MNM), has completed a capital increase of EUR41m.

The capital increase will help fund expansion plans and finance clinical trials of its portfolio of MNM diagnostic and therapeutic products.
 
The fundraising came from existing and new shareholders, including private investors and funds such as a company of the Tamburi Investment Partners Group and the specialist biotech and pharma investment company HBM Healthcare Investments who led the investment with EUR20m.
 
Stefano Buono, chief executive officer of AAA, says: "We are very pleased to have completed this EUR41m capital increase which shows strong support from current and new shareholders. The support we continue to receive is testament to the confidence of our shareholders in the continued growth and positive achievements of the company and its solid business model. The money raised will help us accelerate our international growth, which includes the expansion of our activities in the US, and finance the development of our promising product pipeline. We welcome HBM Healthcare Investments Ltd as a shareholder and believe their experience in backing biotech and pharma will be of great use to guide our strategic directions."
 
Andreas Wicki, chief executive officer of HBM Healthcare Investments, says: "We are delighted to add AAA to our portfolio of promising healthcare companies. We believe that AAA's approach to targeted therapy is very promising and will further advance innovation and product development in molecular nuclear medicine, a niche which has been poorly exploited until now. AAA is a fast growing company that we are excited to support and to accompany on the way to further success."

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