DZP once again advises Michal Lach on an investment in a listed biotech company

DZP’s client was the company eCapital controlled by Michał Lach, the founder of K2 Internet and co-founder of Audioteka and eTutor, who invested in the listed company Pure Biologics, which specialises in the research and development of biological medicines. This is yet another investment by DZP's client in a biotech company this year, following the acquisition in April – also with DZP's support – of shares in NanoGroup S.A., which we wrote about here.

This time our experts supported eCapital represented by Michał Lach in concluding an investment agreement with Pure Biologics concerning the purchase of a stake of over 8% from the main shareholder and the terms of a PLN 5.5 million recapitalisation of the biotech.

The funds raised by the transaction will enable Pure Biologics to continue its flagship oncology projects (potential medicines for, among other things, head and neck cancers and soft tissue sarcomas). At the end of last year, the investee biotech received approval from the US regulator to start a phase 0 trial of one of its key medicines and in the middle of this year applied for approval to start a trial of yet another device. These applications will enable the anti-cancer activity of the substances to be tested, which will translate into their commercialisation value.

DZP’s legal team composed of Maciej Goszczyk, Margarita Kobojek and Maciej Zajda from the Capital Markets & Financial Institutions Practice finalised all the transaction documentation in record time of just one week.