The spin-off of Ceradis and its connection with WUR gave Ceradis an exclusive license on a number of important formulation patents and gave the first right of refusal on new developed technology in crop protection. At the same time, WUR became a major shareholder of Ceradis and continue to be that today.
Ceradis has its own year-round field testing facilities in Colombia (Ceradis Colombia Ltda). Colombia has a highly developed agriculture and floriculture and is also one of the top banana producers in the world. Due to the climate and geography of the country year-round testing is both possible for tropical and temperate crops. Ceradis Colombia was created to ensure an intense feedback between the formulation work in the Netherlands and the field testing in Colombia and to guarantee that Ceradis products have all the qualities each Ceradis product should have. Ceradis Colombia Ltda cooperates with EVH Ltda., the local partner in the PSI project.
Nowadays, Ceradis is the holder of 9 worldwide patents in formulation technology, of which some are still pending. Besides ongoing product development, Ceradis has introduced its first products in several markets in Europe and Latin America. Other products are in registration trials for introduction in the coming years in Europe, North America and Latin America.
The operations of Ceradis were started by Mr. W.M. van der Krieken (former CEO of Ceradis and current head of patents of the Group). As a former scientist of Wageningen University & Research, the only university in the Netherlands to focus specifically on the themes food safety and living environment, Mr. Van der Krieken had spent approximately 15 years on a variety of science projects on the borderline of chemistry and biology and had written several patents for WUR. Next to his role as founder of the Group, Mr. Van der Krieken is currently the head of patents of the Group and member of the Senior Management.
Ceradis was formally founded by Mr. Van der Krieken as a spin off from WUR. The founding shares were granted to Mr. Van der Krieken and WUR. In return for their founding shares, WUR provided €300,000 founding capital. Also, the patents relevant to the Group’s activities were transferred by WUR to Ceradis.
Ceradis attracted its first external funding. PPM Oost, a Dutch venture capital fund specialised in biotech and cleantech, invested in Ceradis and acquired a minority stake in Ceradis.
Value8, a Dutch holding company with holdings in (among others) healthcare and food related companies, acquired the shares from PPM Oost and provided funding to Ceradis in order to further develop and commercialize its products.
RV II, a Dutch venture capital fund specialised in food and agriculture (which is indirectly controlled by Rabobank), invested in Ceradis, thus acquiring a minority stake in Ceradis. In this investment round, Value8 also provided additional growth capital to Ceradis.
The Group received its first registration approval (for its Fungicides CeraQuint SP and MusaCare SP and its Fertilizers Fytofert PK and Fytofert PK ZinCo), allowing it to start commercialising its products). The Group entered into a partnership with the distributor Grupo Gral regarding the distribution of the product in Colombia. Consequently, the Group achieved its first commercial revenues in 2013.
During 2011 to 2013, the Group received registration approval for its product Musacare CP, which is used on bananas, for several countries in Latin America (Colombia, Ecuador, Costa Rica, Honduras and Guatemala). Subsequently, the Group (indirectly, through its distributors) started the commercial development with two ‘blue chip’ banana companies.
The current CEO of the Company and Ceradis, Mr. W.J.A. Meulemeesters, joined Ceradis as Financial and Business Development Manager.
Mr. A. Goig, a former executive at Syngenta (where his latest role was head of Europe, Middle East and Africa), joined Ceradis as Chairman of its supervisory board, adding his experience and network in the crop protection market to the Group.
As the Group grew and moved more to sales, Mr. Van der Krieken decided that for him to remain focused on the technology aspects of the Group, it was better that another person would become CEO. The board of directors of Ceradis elected Mr. W.J.A. Meulemeester as the new CEO of Ceradis and Mr. Van der Krieken became the technical officer of Ceradis.
Registration approval was received for the product Ceraxel in France, where it is used on grapes. For the distribution, the Group has a partnership with Belchim (who also owns the registration rights with regard to CeraXel). Belchim delivers CeraXel to Syngenta, which distributes the products to the farmers under the trade name Redeli.
As a result of a new investment round, Value8 became the majority shareholder of Ceradis (at the date of this Prospectus, Value8 holds 80.24% of the shares in Ceradis).
The registration file for CeraSulfur (a microbial sulfur Fungicide product) was submitted in France, Italy and Spain for use on grapevine. For the distribution, the Group has a partnership with De Sangosse, who will also own the registration rights with regard to CeraSulfur.
Registration approval was received for the product Ceraxel in Italy, where it is used on grapes. For the distribution, the Group has a partnership with Belchim (who also owns the registration rights with regard to CeraXel). Belchim delivers CeraXel to Syngenta, which distributes the products to the farmers under the trade name Quartet.
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