(CercleFinance.com) – eureKING, a SPAC dedicated to bioproduction, reported on Friday results ‘in line with expectations’ for the six-month period from April 1 to September 30, 2022.
As expected, eureKING did not record any income over the period due to the absence of an acquisition, which means that its net result shows a loss of 3.3 million euros made of the costs recorded during these six months, mainly financial charges.
The first social exercise, which had begun on the day of the constitution of
the company, ended on March 31, while its second financial year – which began on April 1 – is due to end on December 31, 2022.
In May 2022, eureKING had raised funds for an amount of 150 million euros as part of an IPO on Euronext Paris, with the ambition of creating a major European player in the field of outsourcing of the manufacture of biopharmaceuticals.
Michael Kloss, a former Bayer executive who is now managing director of eureKING, explains that the investment vehicle’s efforts are now focused on completing an acquisition within seven months.
In a press release, eureKING says it is aiming for the realization of a first ‘structuring’ operation capable of affirming our ambition to become a ‘leading’ international pharmaceutical subcontractor (‘CDMO’).
Following this publication, the eureKING share rose by 2% on Friday morning on the Paris Stock Exchange. Since its first quotation, the title has displayed a globally unchanged course.
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