Dortmund, Germany, January 13, 2009 – InterMed Discovery (IMD), an emerging world class natural product lead-discovery company, today announced the close of an equity transaction worth €7.44 million with Biotropics Malaysia Berhad. The round underlines the long-term Strategic Cooperation Agreement between the two Companies, which was announced in September 2008 as a combination of purchase and capital increase. In addition, the agreement solidifies a minority stake held by Biotropics in IMD.
The round strengthens IMD’s financial position and paves the way for the next strategic steps in IMD´s development. The money raised in this financing round will be invested in the discovery and development of further functional ingredients and will also be used to co-fund IMD’s pharmaceutical pipeline. In return, the participation provides Biotropics access to IMD’s natural product data base and technology to identify, develop and market suitable active natural ingredients exclusively in key markets including United States and Europe.
Read more in the original press release of InterMed Discovery GmbH.
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