Advanced Accelerator Applications Completes €40M Capital Increase
Advanced Accelerator Applications (AAA), a European developer of diagnostic and therapeutic applications and products, has completed a €40m capital increase.
The fundraising was subscribed by existing and new shareholders, including private investors and pharmaceutical companies. New shareholders include Italian biopharmaceutical company Dompé, which has acquired a 7.7% stake in AAA.
In conjunction with the investment, Mr. Eugenio Aringhieri, CEO of Dompé Group, has joined the company’s board.
AAA has raised to date more than €74m to finance the construction of its laboratories and its R&D activities. The new capital will enable the company to finance clinical trials of its portfolio of Radio Metabolic Therapy and diagnostic products, including Lutathera®, for the diagnosis and treatment of Gastro-Entero-Pancreatic Neuro Endocrine Tumours (GEPNETs).
Founded in 2002 as a spin-off from the European Organization for Nuclear Research (CERN) and led by CEO Stefano Buono, AAA develops and commercializes innovative diagnostic and therapeutic applications and products. Its main research focus is on molecular imaging and personalized medicines for the treatment of diseases including cancer. It produces and commercializes PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) products, with 11 production and R&D facilities in France, Italy, Switzerland, Spain and the USA.