Because besides a good product, money is needed.
The media published yesterday the entry of a new group (TGT) in Archivel Farma (the biotech developing RUTI). TGT has bought the 41,8% of the company owned by Fons Innocat (managed by Highgrowth partners), Inversions Valor Afegit and Agora Invest, thus substituting the capital risk partners who leave with a multiple of 1,6 gain. TGT is a big company devoted to developing a portfolio of european cheeses and now being at the forefront of the Cheese Sector. Now both TGT and the founders (leaded by mr. Pepe Martinez) will have 49,2% of the company each, the remaining 1,6% being owned by the catalan pharmaceutical company Reig Jofré.
With an investment of 15M €, the clinical development of the vaccine is ensured, and a Phase III CT is already planned to be launched next year.
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TGT La Vanguardia (in catalan)