Amsterdam-based MYCB1 Group, a health technology company, announced on Thursday, September 7, that it has signed an agreement with GEM Global Yield LLC to receive a share subscription facility of up to CAD $45M (nearly €30.81M) for 36 months following a public listing.
MYCB1’s share subscription facility from GEM will enable them to raise funds by issuing common stock on their terms without any mandatory minimum amount.
In addition, when MYCB1 goes public, they will grant warrants to GEM, allowing GEM to purchase up to 4.15 per cent of MYCB1’s common stock.
Ernesto Diringuer, Founder of MYCB1, says, “We are delighted to announce that our agreement with GEM marks one of the most substantial single-share subscription facilities ever secured by a Dutch scale-up health technology company.”
“This achievement underscores our commitment to securing essential funding as we execute our strategy to go public, providing us with the confidence of a robust capital position once we list on a public exchange,” adds Diringuer.
Brief about Global Emerging Markets (GEM)
GEM is an alternative investment group with assets totalling $3.4B. The firm specialises in managing various investment vehicles that concentrate on emerging markets. GEM has already executed over 480 transactions across 70 countries.
These investment vehicles offer different levels of operational control, risk-adjusted returns, and liquidity profiles. GEM’s portfolio includes investments in Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs), and select venture investments.
Dr. Pierre Morgon, Chairman of the Board at MYCB1, says, “Our agreement with GEM is granting MYCB1 with a financing solution that will support our company beyond the stock exchange listing, thereby providing reassurance to investors about the sustainability of MYCB1.”
“Moreover, it represents a confirmation of the robustness of the value proposition that MYCB1 has established based on its current achievements,” adds Morgon.
Making healthcare decisions data-driven and personalised
Founded in 2017 by Ernesto Diringuer, MYCB1 is a healthtech company that merges pharmaceutical manufacturing, pharmacy operations, and software engineering to drive evidence-based and ultra-personalised solutions.
With its proprietary platform ALETTA, the company harnesses the power of generative AI and real-world evidence (RWE) to address the endemic problem of poor scientific evidence and personalisation in the healthcare and lifestyle industries.
MYCB1 Group and its subsidiaries, MYCB1 B.V. and MYCB1 GmbH, have obtained certifications to introduce their products and ALETTA services in the Dutch and German markets.
Additionally, the company has also established distribution agreements in Scandinavia and is actively negotiating partnerships in Europe, Asia, and Latin America.
MYCB1 has also obtained critical certifications to underpin its operations, including the European Medicines Agency’s GMP certification for pharmaceutical products, ISO9001 for quality management, HKZ Dutch quality standard for pharmacy operations, and ISO27001 and NEN7510 certifications for safeguarding patient data.
