Upfront Chromatography A/S – Management Buy Out (MBO)
Existing shareholders of Upfront Chromatography A/S (Upfront) have tendered all their shares in Upfront to the management with a closing date of 16 November 2015 to complete the recently initiated MBO.
“The new shareholders and management have enabled Upfront‘s strategy to shift from being solely a bead technology development partner to also becoming a partner in providing turn-key solutions mainly to the dairy industry. This entails installing Rhobust EBA purification systems for isolating valuable milk proteins from milk to be used as functional ingredients in the food and beverage industries”, says Michael Pålsson, new COO at Upfront.
“We have added new resources that strengthen Upfront´s Technology and process competences within the EBA Chromatographic Technology and furthermore add experience of applied EBA”, says Povl-André Bendz.
Upfront possesses a strong and growing IP platform a portion of which is co-owned with DSM (NL), Patheon (US) and Therapure Bioscience (CA).
Because of the MBO, and the fact that former shareholders did not wish to sell Upfront to the founder, minority shareholder and former CTO, Allan Lihme, Mr. Lihme has left Upfront and is no longer associated with Upfront.
“Given the circumstances, It has been important for the management to engage a new CTO/CSO of Upfront with a profile of expert knowledge and experience in proteins and chemistry combined with chromatographic technologies, that would further improve the high science level, and who would be able to secure a successful transformation of the company to a world wide EBA system provider to the market”, says Povl-André Bendz.
“Therefore we are also very happy to announce the engagement of Kenneth Harlow, PhD. in biochemistry as our new CTO/CSO”, says Povl-André Bendz.
Upfront currently has 16 employees and is located in Copenhagen, Denmark. The company has achieved a significant amount of expertise within its field since 1992.
Upfront’s Business Model employs the EBA technology disruptively to enable forward integration in industrial value chains and access increased volumes of valuable proteins for value-added use in a number of industrial sectors. Upfront is currently applying its unique technology to the dairy market to aid customers in achieving a higher profit from existing operations.
Povl-André Bendz, CEO Michael Pålsson, COO