Vetoquinol, a player in the global animal health sector, announced its acquisition of an equity stake in Plant Advanced Technologies (PAT), a plant biotechnology company.
The transaction was carried out via a 500,000-euro reserved capital increase at a price of 25 euros per share, resulting in Vetoquinol holding an equity stake of just more than 2% in PAT.
Vetoquinol chief executive officer 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 groundbreaking 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.”
PAT chairman Jean-Paul Fèvre added, “This investment is a sign of confidence and recognition of PAT’s expertise in the field of biotechnology.”
Vetoquinol is a leading global animal health company that supplies drugs and non-medicinal products for the livestock (cattle and pigs) and pet (dogs and cats) markets. As an independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region.
Since its founding in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The group's hybrid growth is driven by the reinforcement of its product portfolio, coupled with acquisitions in high-potential growth markets. Vetoquinol has 2,154 employees.
PAT is a plant biotechnology company producing rare new actives of plant origin designed for pharmaceutical, cosmetic and agrochemical markets. Its exclusive know-how is patented worldwide (PAT plant milking and Target Binding).