As we reported earlier, the Swedish fabric technology brand Polygiene, which was founded in 2006 as a spin-off of the Swedish chemical company Perstorp, was among the winners in the Covid-19 pandemic thanks to its new antiviral treatment, ViralOff®, which was launched in April. This success also aroused the interest of potential investors, including an investment fund partly owned by Lloyd Fonds, a bank-independent investment company and active asset manager based in Hamburg, Germany.
In order to bring the new international investor on board, Mats Georgson and Peter Sjösten of Polygiene sold 500,000 of their shares, which represented approximately 2.4 percent of the total number of outstanding shares. On Aug. 31, Polygiene closed with SEK 26.40 per share at the Stockholm stock exchange, nearly 200 times the value at the beginning of this year, giving it a market capitalization of more than SEK 530 million (€51.4m-$61.6m).
Georgson has been Polygiene’s chief marketing officer since 2018 after having served as director of the company for ten years since January 2008. Sjösten is Polygiene’s chief commercial officer and vice president, new ventures and strategies, and joined the company in 2010. Together, Georgson and Sjösten still hold over 750,000 shares (3.6 percent) after the transaction.
In 2016, Polygiene was listed on Nasdaq First North Growth Market in Stockholm, a stock exchange dedicated to relatively small and fast-growing companies. At the start of trading, approximately 19.3 million shares were distributed among 160 shareholders. Currently, the largest shareholders are the Swedish investor Lars Håkan Lagerberg (11.1%), the Swiss company SIX SIS AG (5.7 %), the Swedish family-owned company Svanberg & Co Invest (5.1%) and JPMorgan Chase (4.6%).
“We who sell our solutions all over the world see it as a strength having a broad international ownership base, which benefits our continued international growth,” Ulrika Björk, chief executive of Polygiene, commented on the transaction.