EUCODIS Bioscience to utilize EUR 2M capital injection for adding enzyme families and development of international markets

EUCODIS Bioscience, a company providing customized enzymes to the pharmaceutical, chemical, and other industries, announced today that it has received a cash injection of EUR 2 million from existing shareholders.

The Company will use these funds to swiftly add new enzyme families to its product portfolio and to accelerate the development of international markets. At the same time, EUCODIS Bioscience is expanding its manufacturing capacity in pace with growing customer demand for its novel enzymes.

Commenting on the capital injection Thomas Fischer, CEO of EUCODIS Bioscience, said: "Following several product launches in 2009 and the recent expansion of our lipases family to 20 enzymes we continue to build our order book. Accordingly, our revenues will finance a good part of our expenses and investments this year."

Fischer continued: "Given the wealth of business opportunities in front of us, we are extremely pleased that the cash injection will help us to broaden our product range and to ramp up our sales and marketing efforts."

EUCODIS Bioscience' shareholders Pontis Capital, Wiener Wachstumsfonds, IBG, and ARAX participated in the cash injection.

Harald Schuerz, Managing Director of Wiener Wachstumsfonds, commented: "We are delighted that the market clearly confirms the business model of EUCODIS Bioscience. The commercial focus and the industrial mindset of their team are impressive. In light of their track record and the market potential, this company will soon be an Austrian IPO candidate."

Thomas Moser, Managing Partner at Pontis Capital, commented: "We have been impressed with the progress EUCODIS Bioscience has made in commercializing their experience in enzyme development. In addition, they have established a proven technology for the directed evolution of enzymes and have developed a unique expertise in manufacturing specialty enzymes. This provides the right ingredients to make EUCODIS Bioscience a preeminent supplier to the white biotechnology industry."