Biomax to list on NewConnect in September

2010-09-08

Biomax, a start-up maker and distributor of collagen-based pharmaceuticals, cosmetics and food products is about to list its shares on NewConnect, the Warsaw Stock Exchange’s alternative market, in late September. The company has just launched a private share placement worth PLN 5m (€1.3m), which is to be followed by a stockmarket debut later this month. In the words of Andrzej Bartoszewicz, the company’s CEO, quoted by Parkiet, the proceeds will be used to fund research work on new products and technologies and the construction of R&D and production facilities, boost personnel and create a marketing and purchasing platform. Initially the company will focus on the distribution of biotech products through an online service, and on establishing links with business partners in Poland and on foreign markets, especially Asia (China, Taiwan, Japan). As the next step, it will expand into two other channels, i.e. traditional and multi-level marketing. The ultimate goal is to launch own production of collagen-based pharmaceuticals (ointments, sticking plaster), cosmetic products (facial creams, gels), and food products (food additives). Next year it aims to create a biotech cluster for companies and academic institutions from Gdansk and Poznan. It is currently working on several innovative products, some in collaboration with the Natural Sciences University in Poznan.
Biomax estimates that in 2011 its revenues will amount to PLN 1.88m (€0.48m), and will reach PLN 7.8m (€2m) in 2012. By 2015 it aims to control about 5% of the Polish biotech market.
Biomax was established in March 2010. It is owned by three investment firms. At the moment its share capital is worth PLN 11.3m (€2.9m).