The bridge round, arranged by West Hill Capital, was increased due to significant investor demand and was 2.2x oversubscribed. The valuation of Unibio is now above US$300m. The capital raised will be used for general corporate purposes and to support the company's future development plans.
Unibio has also successfully closed the previously announced partnership agreement with Stafilies in respect of Protelux, the first industrial-scale plant producing Uniprotein®. As part of the transaction, the intellectual property and experience gained by Protelux in constructing and operating the world's first industrial-scale U- Loop® fermenter will be shared with Unibio and can be leveraged when designing and building similar facilities around the world.
Following the partnership Stafilies is now a significant shareholder in Unibio. David Henstrom, the new Chief Executive Officer, who joined Unibio from Cargill has also now taken up his role to grow Unibio.
Jan Boeg Hansen, Chairman, said: 'It has been an extremely busy and successful year for Unibio, with the commencement of industrial production and the completion of the capital raising. The confidence placed in us by our shareholders is testimony to the strong story that Unibio has to tell and now that David has joined us we are working hard to continue the development of Unibio at a high pace.'
For more information visit the Unibio website, HERE.
The Aquaculturists
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