A €6 million funding agreement to complete the the Blue Sky Swisse SA CBD extraction facility in Switzerland is a step closer. Health and medical tech products company IGEA Pharma NV, which owns the GMP-pharma facility through its joint venture with Blue Sky Natural Resources Ltd, has announced that the Italian private equity industrial holding firm LMH SpA has completed the due diligence process for the deal.
“The commitment will become final and binding only after the signing of the investment agreement,” according to a company statement. “The transaction is expected to close in the next three weeks.
“With the new funding, IGEA Pharma forecasts that the joint-venture will start production by Q2 2023 and expects a turnover of approximately €30 million, with an expected EBITDA margin of approximately 32%in 2023.”