The first European Spac dedicated to biomedicines goes public in Paris

Driven by the Covid crisis, the theme of local drug manufacturing in Europe is promising. After Sanofi’s active pharmaceutical ingredient manufacturing branch, which went public on Friday under the name Euroapi, a second project is testing the market on Monday, May 9. But in a new form: EureKing is a “Spac”, a recent form of listed vehicle, and it is the first ever created in Europe in the niche of biological active ingredients. Objective: to create one of the European leaders in the field.

Europe has experienced various shortages of active ingredients in recent years, which are now often produced in China and India. Like Euroapi, EureKing is testing the stock market – to raise 150 to 165 million euros -, seeking to be carried by the wind of the industrial relocation of drugs which is blowing in France. At the end of October 2021, 148 million aid from the France Relance plan had been allocated to 114 health projects, recalls EureKing, stressing that “the goal of this project is to strengthen the resilience of the French value chain, therefore the French and European sovereignty”.

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