Vytrus Biotech, the company specialized in active ingredients derived from plant stem cells for the cosmetic industry, has received a favorable report on compliance with the requirements for its incorporation into the BME Growth stock market with an initial valuation of 12.2 million euros.
The biotech company will make its debut at BME Growth in the listing without placement modality, in the hands of GVC Gaesco Valores as Registered Advisor and Liquidity Provider, and Garrigues and IMB Grup as legal advisors.
Once the company has the definitive approval of incorporation by the Board of BME Growth, a date will be set to celebrate the traditional bell ringing where the company’s shares will start trading with a reference value of 1.72 euros per share.
Founded more than 12 years ago by Albert Jané, biotechnologist and biochemist and Master in Pharmaceutical Sciences, and Òscar Expósito, biologist and PhD in Plant Biotechnology, and current CEOs, Vytrus has increased its sales by 65% during the 2021 financial year to 2.8 million euros compared to 2020, which represents a 133% increase in sales in the two years of the pandemic and an annual double-digit increase, in the upward trend of the last 5 years.
According to Albert Jané, CEO, COO and co-founder of Vytrus: “Our business is based on the development, production and commercialization of active ingredients with high added value for the cosmetic and dermatological markets. Thanks to our plant stem cell culture technology, we obtain high-quality, natural and sustainable products. Going public will help us continue developing the great benefits of our technology and allow us to boost the growth of the company“.
The incorporation of Vytrus to BME Growth will provide the company with a mechanism for liquidity and objective valuation of the company’s shares as a reference for potential future corporate operations, in addition to increasing its brand image, transparency and solvency, strengthening its relationship with clients, investors, suppliers and funders.
“At Vytrus Biotech, we believe that the “what” is as important as the “how” things are done. Innovation is part of our DNA, but the passion for what we do is what makes us continue living this project with enthusiasm and determination. Both the international awards and recognitions we have received in recent years and the implementation of our Corporate Social Responsibility program make us feel very proud to be part of this project. We firmly believe that the incorporation of Vytrus to BME Growth will be a great catalyst for the growth and expansion of a project that genuinely wants to add value to the world in a sustainable and conscious way”, said Òscar Expósito, CEO, CSO and co-founder of Vytrus.
65% of sales – exports to more than 30 countries
While waiting to carry out the annual audit, the biotech estimates that it could close the 2021 financial year with the best results in its history, where 65% of its sales are the result of exports to more than 30 countries. Vytrus has closed 2021 with a team of almost 30 qualified employees, and with facilities of 1,400 m2 in Terrassa (Barcelona, Spain) where they research, develop, produce, and commercialize active ingredients with high added value for the cosmetic industry and the health sector.
