Deinove SA, a specialist in the application of deinococci bacteria to biofuels, green chemistry and antibiotics, has announced the registration of its Document de Base with the Autorité des Marchés Financiers (AMF) under number I.10-014 on March 25th, 2010, as it moves towards an initial public offering on the Alternext market of NYSE Euronext, Paris.
The company is leveraging the exceptional biodiversity and robustness of deinococci, bacteria that have been on Earth for over 3 billion years, as the basis of industrial processes, and particularly for bioethanol production from biomass and bio-derived waste.
Filing of the Document de Base is the first step towards an initial public offering of Deinove’s shares on NYSE Euronext Paris, which is expected to take place subject to market conditions after approval of the offer prospectus by the AMF.
Deinove is dedicated to the development and commercial exploitation of processes for the production of biofuels and other compounds of industrial or pharmaceutical interest by exploiting the exceptional natural properties of deinococci. The company intends to leverage its proprietary bacterial strains, technologies and processes by outlicensing to industrial partners.
The Paris-based biotech company, which currently has 15 employees, was incorporated in late 2006 by Philippe Pouletty, Managing Partner at the private equity firm Truffle Capital, and Miroslav Radman, one of world’s leading molecular biologists and a member of the French Academy of Science. Radman elucidated and patented the genetic mechanism behind the extraordinary biodiversity and robustness of the bacterium Deinococcus, on which Deinove’s strategy is based.