KBC Securities - Amoeba SA (AMEBA) Amoéba Partnership with Koppert signed

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KBC Securities

Thomas Vranken

Amoéba Partnership with Koppert signed

Amoéba has finalized a major five-year distribution agreement with Dutch biocontrol leader Koppert for its biofungicide Axpera, following a memorandum of understanding signed in December 2024. The deal grants Koppert exclusive rights across 18 European countries and the US, with a product launch expected in early 2026 under Koppert's brand. Production will occur at Amoéba's Chassieu site and via CDMO partners. The companies also plan to co-develop new biofungicide solutions. While financial terms remain undisclosed, we believe the partnership significantly derisks Amoéba's commercial trajectory, and therefore adjust our target price from €1.70 to €1.80 while reaffirming a Buy rating.

04/06/2025 1 EN

Underlying

Amoeba SA

Amoeba SA. Amoeba SA is a France-based company that develops, manufactures and markets biological products. The Company specializes in disruptive biological solutions for the treatment of Legionella, amoeba and biofilm in water. The Company's offering includes products and services, such as: Cleantech biological solution, a patented technological disruptive product with no impact on the environment; amoebic analyses of waters of wet cooling towers (TAR), hot sanitary waters, industrial waters and waters of swimming pools; as well as Legionella tests of industrial waste water, among others. The Company is engaged in various technical, commercial, industrial and investment partnerships.

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FR0011051598 Euronext Paris France

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Thomas Vranken

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Amoéba Partnership with Koppert signed

We are a financial services provider for several types of professional clients, each with distinct needs.

Amoéba Unanimously positive EU vote on active substance as biocontrol

Amoéba Talks with Koppert extended

Brederode 1Q25: NAVps down 1.7%; Weakening Dollar Impacts Private Assets

Galapagos Updated NHL phase 1/2 GLPG5101 data at EHA shows decentralised POC

MaaT Pharma Updated MaaT013 aGvHD EAP data at EHA shows consistent outcomes

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