OF EUROPEAN BIOTECH ACQUISITION CORP (EBAC) TARGETING EUROPEAN BIOTECH
- EBAC IS THE FIRST HEALTHCARE SPAC TO EXCLUSIVELY FOCUS ON EUROPEAN BIOTECH
- EDUARDO BRAVO TO JOIN LSP AS A PARTNER AND BECOME EBAC’S CEO
Amsterdam, March 18, 2021 - LSP, the leading European life sciences investor, today announces the closing of the upsized $120 million Nasdaq IPO of European Biotech Acquisition Corporation (EBAC). Eduardo Bravo will join LSP as a Partner and become EBAC’s CEO. LSP Founder and Managing Partner Martijn Kleijwegt will become EBAC’s Chairman and Mark Wegter will be joining EBAC’s Board of Directors. EBAC started trading on March 16, 2021 under the ticker symbol "EBACU".
Eduardo Bravo comments: “I am extremely happy to become part of LSP and join such a group of talented and professional people. I am convinced that with their unmatched access to European deal flow, their decades long track record of identifying the winners and my background as an experienced biotech entrepreneur who knows what it takes to run a successful biotech company, we are very well positioned to find the ideal target for EBAC. Many European biotech companies will be looking to list on Nasdaq in the months to come and EBAC provides a very attractive alternative route to such a direct listing.”
Martijn Kleijwegt added: “We are very proud to launch our SPAC and raise $120 million targeting European biotech. LSP has a track record of being first to market and we have done it again. We have seen the European life science market grow at an unprecedented pace over the past years. It is this growth that LSP, with its various investment strategies, has been capitalizing on. With Eduardo now joining our firm, taking direct responsibility to run EBAC, find a target and execute on a business combination, we have added further strength to our leading position in Europe.”
About EBAC: EBAC was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, re-organization, or similar business combination with one or more businesses. The Company intends to focus on identifying promising opportunities in the life sciences industry in Europe.
About Eduardo Bravo
Eduardo Bravo has over 25 years of senior management and board experience in the biopharmaceutical sector, having held the position of CEO at Nordic Nanovector, TiGenix and Cellerix. As CEO at TiGenix, he oversaw several financing rounds, the company’s IPO on Nasdaq and its eventual acquisition by Takeda. He is currently Chairman of the Board at Vivet Therapeutics and Engitix Ltd, and a Board Member at Sutura Therapeutics. Eduardo was President of the European Biopharmaceutical Enterprises Board of Directors between 2016 and 2018. He holds a degree in Business Administration and an MBA from INSEAD.
LSP is one of the largest European investment firms providing financing for life sciences and health care companies. Since its inception in 1998, LSP’s management has raised $2.5 billion of risk capital targeting science, innovation, and – above all – a positive impact on society. LSP’s investment track record spans a 25-year period in which it has supported the growth of 300 companies, through private and public financings and through M&A. With offices in Amsterdam, Munich and Boston, LSP currently invests through five strategies, each having a distinctive investment scope and a dedicated team. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming for-profit and not-for-profit roles as initiators, founders and board members in various private and public bodies and organizations. For more information, see lspvc.com.
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