AMOEBA: Commercial strategy and governance further strengthened and industrial project deferred
AMOEBA: Commercial strategy and governance further strengthened and industrial project deferred
Chassieu (France), December 15, 2023 – 17:45 – AMOÉBA (FR0011051598 – ALMIB) an industrial biotech in pre-commercialization* specialized in the treatment of microbiological risk, developing an anti-aging cosmetic ingredient, a biocontrol agent for crop treatment in agriculture that has obtained a marketing authorization in the United States and a biological biocide that has also obtained a marketing authorization in the United States for use in closed cooling systems, is announcing the deferral of work on its Biocontrol plant in Cavaillon, pending further financing.
As discussions are still underway with several investors and business partners, Amoéba has decided to defer work on its USIBIAM industrial project in Cavaillon. This deferral will not in any way affect the Company’s continued progress with the various commercial initiatives that are underway.
Strategic partnership with Nice & Green SA further strengthened
Amoéba is adapting its strategic partnership with its financial partner and lead shareholder Nice & Green SA to help support Amoéba’s commercial development, while continuing to secure its cash position and covering the operating costs relating to the industrial project’s deferral. Nice & Green SA is committed to continuing to finance Amoéba’s ongoing activities until new investors are brought on board (see press release from February 15, 2023).
Following an initial assessment and financial structuring phase entrusted to KPMG, the Company is continuing to move forward with its work to identify non-dilutive financing solutions for its industrial project, while involving Nice & Green SA.
While waiting for this financing to be secured, Nice & Green SA, which has retained the majority of the shares obtained by converting the bonds issued through the convertible bond financing from 2019 to 2022, will continue to support the Company, positioning itself as a strategic investor alongside Amoéba. The Swiss investor is once again setting out its confidence in the development of Amoéba’s biocide, phytosanitary and cosmetic applications. Today, Nice & Green SA holds 29.4% of Amoéba’s capital.
Governance changes
The separation of the Chairman of the Board of Directors and Chief Executive Officer roles was approved by the Board of Directors on December 14, 2023, resulting in the end of Fabrice Plasson’s positions as Chairman of the Board of Directors and Chief Executive Officer. However, he will continue with his commitment alongside the Company, which he founded 13 years ago,
by supporting Amoéba’s development as a founding director and helping drive the Company’s strategic vision within the Board.
To support this key strategic stage and consolidate Nice & Green’s SA support, Benoit Villers, Nice & Green SA Executive Board Member, was appointed as a director of Amoéba and Chairman of its Board of Directors during this same Board meeting. Benoit brings vast experience in commercial strategies and market development, drawing on expertise built up with major groups, such as Barry Callebaut and ADM, as well as younger companies like Nice & Green SA and the various startups that he supports.
The Chief Executive Officer role was entrusted to Jean-François Doucet, who was previously Deputy General Manager. Jean-François has over 25 years’ experience in auditing, corporate finance and administration with international businesses. He has operated in commercial and industrial environments in the chemical and health sectors (BASF Agri, BASF Agro, Gibaud, Ossür, etc.), where he has also been involved in operational and strategic transformation operations.
Benoit Villers, Nice & Green SA Executive Board Member: “This latest stage in our strategic partnership with Amoéba reflects our commitment to the company’s development and success. By becoming part of the Board of Directors, we aim to take on an active role to help market its product ranges. Nice & Green SA is still deeply committed alongside Amoéba to support its ongoing activities, and we are confident about its potential for growth. Together, we are working to further strengthen the company’s position and ensure that it has the future that it deserves”.
Fabrice Plasson, Amoéba director and founder: “The relationship of mutual confidence and trust that we have developed with Nice & Green SA over the last few years has naturally led us to embark on this new strategic stage. By our side for many years, Nice & Green SA will now be even more involved in Amoéba’s project, further strengthening its positions within its governance bodies. We expect this renewed confidence to help drive the development of Amoéba and its microbiological risk treatment solutions in the water, crop protection and cosmetics sectors. Amoéba is now ideally positioned to capitalize on more than 10 years of R&D focused on the development of biocide, phytosanitary and cosmetic applications”.