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Successful capital increase for Viridaxis
Nearly €1M raised to target outdoor crops


Gilly, Belgium, 15 October 2007 - Viridaxis, a biotechnology company involved in the development, production and marketing of natural enemies for aphid control, announces an increase of capital of nearly €1M€. The participants in this second investor round are the Vives fund, Viridaxis’ majority shareholder and six new investors, namely S.R.I.W. and five Business Angels in the BAMS network. At its formation in July 2004 this spin-off of Louvain Catholic University started up with capital close to half a million euros.

This increase in capital will enable the company to industrialise insect production, expand its production capacity and develop new products for aphid control in outdoor crops, notably strawberries and apples.

Vincent Cambier, the company’s co-founder and CEO, commented: “We are really pleased that this operation has been completed successfully. The financial backing of investors like Vives and S.R.I.W. endorses our strategic vision. The funds raised will enable us to finance the growth of Viridaxis and carry out our strategy with the appropriate resources ».


About Viridaxis - www.viridaxis.com

Viridaxis uses a quite unique technology to develop parasitoids – tiny wasps that are completely harmless to man and the environment – to control aphids in crops. Since 2005 the company has mass-produced and marketed hundreds of thousands of insects per week for greenhouse crops. The challenge of producing new, lower cost parasitoid species to target outdoor crops is a real issue for the biological control of tomorrow.

About Vives - www.vivesfund.com

VIVES is a private venture capital fund with capital of €15M. The limited partners are SOPARTEC S.A. (13%), the European Investment Fund – EIF (30%), Fortis Private Equity (17%), KBC Investco (17%), Nivelinvest (13%) and Sofina (10%). Vives’ objective is to stimulate the setting up and growth of spin-offs from universities and to invest in technological innovation enterprises in the early years.

About S.R.I.W. - www.sriw.be

The S.R.I.W. and its subsidiaries together form the S.R.I.W. Group, whose mission is to intervene financially for the long term, in companies not only in Belgium but also abroad, with the objective of promoting the economic development of the Walloon Region, either directly or indirectly. They participate in projects for redeployment, modernisation or growth of the companies concerned. The financial resources which they contribute to the companies concentrate on activities aimed at the long term. This contrasts with the conventional, short-term financing covered by traditional bankers.

About BAMS - www.bamss.com
BAMS continuously selects projects with high growth potential in a number of fields:industry, food processing, leisure, the service sector, biotechnology, data processing, etc. International enterprises, either new starts or at the first growth phase, make up the majority of the portfolio. The aim is to give private investors effective access to innovative companies. To date BAMS comprises nearly 100 Business Angels and has financed around sixty companies in seven years.


Contact

Viridaxis S.A.
Vincent Cambier
97 Chaussée de Charleroi
B-6060 Gilly
Tel.: +32 (0) 71 48 72 25
Fax: +32 (0) 71 42 36 57
Email: vcambier@viridaxis.com


Publisher Contact Information:

Viridaxis
0032(0)71487225
vcambier@viridaxis.com

Company profile of Viridaxis
Past press releases of Viridaxis.

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