Kartesia to acquire a 51% stake ADL Biopharma.

Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, agreed to acquire a 51% stake ADL Biopharma, a Spanish biopharmaceutical company. Financial terms were not disclosed. The agreement also includes a new tranche of €5m made available at closing by Kartesia for the general corporate purposes of ADL, a commitment by the shareholders to approve a capital increase of at least €10m to be completed before year-end, pro rata of the stake of each party, and the A&E of the senior financing. With immediate effect, ADL Biopharma will operate as an independent entity from ADL Bionatur Solutions.