BIOGENIS, the stem cell bank, is entering a period of expansion and consolidation of its position on the Romanian market following the financing of 4.4 million euros of Enterprise Venture Fund I (EVF I) in PBKM.
"The funds received by PBKM from our new partner will finance the expansion of the company, including acquisitions, in Central and Eastern Europe, and will also help promote the completely ethical practice of storing and using stem cells. By the end of the month November 2009 will be completed a new location for processing and storing stem cells in Romania, Bucharest, probably the most modern of its kind in Romania.
BIOGENIS will then follow the authorization / accreditation process together with the authorities, being confident that it will be successful and will provide benefits to clients in Romania. The investment experience of Enterprise Investors in the region will help PBKM build a strong group that not only uses the latest technologies, but also has best management practices, "said Jakub Baran, CEO of PBKM.
"Following this important funding, we will make changes to offers ours for the benefit of the future parents, being closer to them and due to the campaigns we are going to carry out at the end of this year and the beginning of 2010.
In 2009 we developed several information and education programs for future parents, also supporting special projects for the same purpose. We will continue these actions in parallel with the development of BIOGENIS services and presence throughout the country, "said Dr. Marius Calomfirescu, General Manager of BIOGENIS.
Enterprise Venture Fund I (EVF I), the venture capital fund managed by Enterprise Investors (EI), thus becomes a majority shareholder by acquiring 50.1% of PBKM shares.
Polski Bank Komórek Macierzystych was established in 2002 and is the largest stem cell bank in Poland and the fourth largest in Europe. It operates in Poland and, through its subsidiaries and affiliated companies, in Romania (Biogenis), Hungary (Krio), Latvia (Cilmes Sunu Banka Sia), Italy (Famicord Italy) and Spain (Sevibe Cells).
November 9, 2009