Waturu Holding A/S's subsidiary Watgen Medical A/S enters into investment agreements of DKK 12,195,000,-
Watgen Medical A/S
Company Announcement No. 21
Vejle, December the 12th., 2019
Waturu Holding A/S's subsidiary Watgen Medical A/S has today entered into investment agreements with HEBO Danmark Holding ApS for a capital injection of DKK 10,945,000, - and with its co-founder and CTO MD Prof. Peter Bjerring with an additional DKK 1,250,000.
Investing in trances. DKK 8,945,000 will be added to the company in December 2019. The amount will ensure operations, including the continued development of products and the conduct of clinical trials, which will document the anti-inflammatory effect on eczema and an improved treatment method for wound patients, in addition to preparing the company for the upcoming IPO.
A final capital injection of DKK 3,250,000 will be added to the company in connection with the company's stock exchange listing in the second half of 2020 at a minimum valuation of DKK +250 million.
CEO of Waturu Holding A/S Toke Reedtz states:
“The interest concerning investing in Watgen Medical A/S has been fantastic. We would like to take this opportunity to thank the many investors who have approached us in this regard and hope they will invest, when we list the company later in 2020”. We are of course also very proud that co-founder and MD. Prof. Peter Bjerring is increasing his investment in Watgen Medical A/S.
CEO of Hebo Danmark Holding ApS states:
“We are looking to invest in growth companies that make a difference to people and at the same time has a sustainable profile. Watgen Medical A/S is an example of this and with a competent and enterprising management we look forward to working with the company.
Group CFO Michael Nørgaard for Waturu Holding A/S states:
“The value impact on Waturu Holding A/S will be significant, due to an expected significant increase in value of Watgen Medical A/S within 1-2 years - Waturu Holding A/S will remain majority shareholder even after the upcoming IPO. Financially, the increased demand to deliver products to Watgen Medical A/S will potentially result in expected demand of more than 75,000 units by 2025 which has not been included in Waturu Holdings' growth plan. On the operating side, Watgen Medical A/S´s, has started to expand the organization, with management and specialized resources with competencies in atopic dermatitis (child eczema) and wound care targeted chronic wound care patients ”.
CEO of Watgen Medical A/S Jesper Nørregaard states:
“I am very pleased to welcome HEBO Denmark Holding to Watgen Medical A/S's circle of owners. Getting such a professional and knowledgeable investor on board is just great for us as a company. The investment means that we can accelerate our work in offering new solutions to patients with skin diseases and in improving the wound treatment solutions as well as preparing the company for the upcoming IPO”.
More information:
CEO Toke Reedtz, tel .: , e-mail:
CFO Michael Nørgaard, tel .: , e-mail:
Waturu Holding A/S
Sjællandsgade 32
7100 Vejle
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Jungmansgatan 12
211 11 Malmö
Sweden
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