VETOQUINOL ACQUIRES EQUITY STAKE IN PLANT ADVANCED TECHNOLOGIES PAT
Lure and Nancy - November 13, 2017: Vetoquinol, a leading player in the animal health sector, and Plant Advanced Technologies PAT, a plant biotechnology company, announce Vetoquinol’s acquisition of an equity stake in Plant Advanced Technologies PAT. The transaction was carried out via a €500,000 reserved capital increase at a price of €25 per share resulting in the veterinary group holding an equity stake of just over 2% in PAT.
Vetoquinol CEO Matthieu Frechin said: “This initial agreement demonstrates our commitment to the biotechnology sector. This investment is in keeping with our innovation strategy aimed at providing our vet customers with solutions for diseases where treatment is still lacking. PAT's ground-breaking technology can be adapted to the animal health sector, particularly in the area of monoclonal antibodies. PAT works on molecules of natural origin that are a potential alternative source of active ingredients for our future drugs.”
Jean-Paul Fèvre, Chairman of Plant Advanced Technologies PAT, commented on the transaction: “We are delighted to welcome an animal health company of Vetoquinol’s stature among our shareholders. This investment is a sign of confidence and recognition of PAT’s expertise in the field of biotechnology.”
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