Tartu biotechnology company receives a 4.5 million Euro investment
TBD-Biodiscovery, a biotechnology company based in Tartu, Estonia’s second largest town, has received an all time largest investment brought to the Estonian biotechnology sector. TBD-Biodiscovery’s main activities are the production and development of active pharmaceutical ingredients. The company was founded in 2005 and located in Tartu Science Park. The current premises are in Tartu Biotechnology Park. The new Dutch stakeholder, SEAL Investments B.V acquired 30% of TBD and invests 4.5 million Euros over the course of the next few years.
The Chairman of the Management Board, Dr Andrus Tasa, pointed out that this investment became reality due to long collaborative relationships in the international markets and mutual trust between parties. He also said that quality, accuracy, and competence are the building blocks on which TBD-Biodiscovery is creating its success and future prosperity.
Mr Indrek Tammeaid, an independent consultant and business development expert, said: “TBD-Biodiscovery has great potential and capability to achieve remarkable results in the global market. This investment and partnership will further enhance their opportunities and help them achieve even more. This will be the next major success story among Estonian biotech companies.” Tammeaid and TGS Baltics law firm were the mediators and consultants of the investment deal.
The news of a large investment made to support a company based in Tartu brought great joy to the city’s mayor, Mr Urmas Klaas. “Tartu is undoubtedly the centre of biotechnology and this type of science-based entrepreneurship will bring great opportunities for further growth and development for TBD and the biotech sector in Tartu.”
The main goal for TBD and SEAL Investment is to gain a strong position in the European veterinary medicine market. TBD already produces 90% of one of the active pharmaceutical ingredients, used in medicines that mitigate travel discomfort in for pet animals.
There are 40 people working in TBD-Biodiscovery, one-third of whom hold PhD degrees. Up to 95% of the manufactured goods are exported. The main export markets are Germany, the Netherlands, Latvia, Israel, and South-Korea.
TBD-Biodiscovery cares deeply about strengthening and sustainability of life science sector in Tartu and Estonia. The company collaborates with the University of Tartu, contributing to the education and development of young chemists. TBD offers various trainee positions and has been a sponsor for many chemistry-related competitions, such as Estonian and Baltics Chemistry Olympiads.