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International Internet Magazine. Baltic States news & analytics Monday, 01.06.2020, 02:13

Dutch company to invest EUR 4.5 mln in Tartu-based pharmaceutical co

BC, Tallinn, 29.04.2019.Print version
The Dutch company SEAL Investment B.V. is to invest 4.5 million euros in the Tartu-based pharmaceutical company TBD-Biodiscovery, which is the largest ever foreign investment into an Estonian biotechnology company, reported LETA/BNS.

TBD-Biodiscovery, a company developing and selling active pharmaceutical ingredients at the Tartu Biotechnology Park, was joined by Dutch partners from the company SEAL Investment B.V. who acquired a 30 percent holding in the Estonian company and will invest 4.5 mln euros in the company in the next few years, the Tartu city government said.

Tartu Mayor Urmas Klaas said he is satisfied that this kind of a large-scale investment was made namely into the development of a Tartu-based enterprise. "Tartu is undoubtedly the biotechnology center of Estonia and research-based smart entrepreneurship has excellent development possibilities in the university town," the mayor said in a press release.

The aim of TBD-Biodiscovery is to occupy a significant place on the European market for veterinary active ingredients with the new partners. An example of that is the active ingredient of a drug used to prevent the travel discomforts of pets.

The annual global market volume of the active ingredient of the drug is 100 to 200 kilograms. In this active ingredient's generic sector, TBD-Biodiscovery is a market leader, holding 90 percent of the global market.

There are approximately 40 people working at TBD-Biodiscovery and 95% of the company's services and products are exported. The larger export target countries include the Netherlands, Germany, Latvia, Israel and South Korea. The company is also closely cooperating with the University of Tartu.

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