The Owl Genomics team

The incorporation of new stockholders in the Basque company OWL Genomics has promoted one of the first cash out operations in the biotech industry. The minority group of individual investors, which jointly represented 3.6% of OWL Genomics' equity capital, has sold its shares to the new investors, who have invested 1 million euros more in new shares to reach 10% post-money valuation in the firm.

Thus, OWL Genomics has taken a step forward to its consolidation and strategic development, strengthening its capital structure, since the new investors consider their participation in OWL as a long-term strategic investment. Cross Road Biotech and Professor Jose María Mato, scientific founder of the company and general director of CIC bioGUNE, remain as reference stockholders after this transaction. Other stockholders include Seed Capital Bizkaia, the Iñigo Alvarez de Toledo Renal Foundation (FRIAT) and other businessmen in their own personal capacity.

The group of minority investors supporting OWL Genomics' founders from 2004 has received an internal rate of return (IRR) of 14%, thus doubling their initial investment. This is a clear example of profitability of biotech investments.

OWL Genomics, based at the BizkaiaTechnology Park, develops pioneering applications in the field of preventive medicine based in the search for biomarkers using state-of-the-art technology. Founded in 2002, its activity focuses on the development of systems for early diagnosis and prognosis of liver diseases based on metabolomics. This biotechnological company also deals with the identification of therapeutical targets for different pathologies which have no current good treatment prospects.