KitoZyme(Liege, Belgium) appoints François Blondel as the new Chief Executive Officer of the company and announces €9 million capital increase

KitoZyme, the privately held Belgium-based world leader in the production of non-animal chitosan, chitin-glucan and beta-glucan, has recently appointed François Blondel as their new Chief Executive Officer and has just announced recent finalization of a €9 million capital increase.

KitoZyme, a spin-off of the ULg based in Liège, is a pioneer in the production of biomass-derived biopolymers, vegetable chitosan (and derivatives), chitin-glucan and beta-glucan, exclusively extracted from renewable, non-GMO vegetable sources. Since 2012, it is also aa full-service provider of solutions for the Consumer Health Care market adhering to regulations for medical devices.

The capital increase for a total amount of €9 million will significantly build the company’s equity and will allow it to actively continue developing new products and its international commercial expansion.

The issue of new shares was reserved for and entirely underwritten by the company’s two main shareholders: the company Valois (Mestdagh Group and Montulet family) and the SRIW, the Wallonia Regional Investment Company.

The company’s main focus is to design and manufacture innovative solutions to preserve and strengthen the health capital of people today and for generations to come. With a commitment to combat major health problems, KitoZyme is developing specialty ingredients and medical device products that cater to several different market segments.

Today, KitoZyme is positioned at the crossroads of three industries that, although once independent of one another, are now becoming increasingly interconnected: Food & Health Nutrition, Cosmetics and Medical.

As for the new CEO, François Blondel, 49, was also appointed to the KitoZyme Board of Directors, effective November 30, 2012. Prior to joining KitoZyme, Mr. Blondel’s achievements include a broad experience in the management of innovation driven companies. He began his career working in the chemical, oil and gas sectors, with assignments in the United States and Europe followed by a position as CEO in 1999 with International Brachytherapy (IBt) of Seneffe, Belgium, a start-up company in the medical device sector focused on cancer treatment. Under his management, he lead IBt, a Euronext stock listed company, from its R&D stage to a successful and well diversified international group, and European leader in its sector. Currently, he is serving as an active board member of: Compagnie du Bois Sauvage (diversified holding company listed on Euronext), Sopartec (holding of UCL university spinoffs), Nanocyl (world leader in production of carbon nanotubes), and a number of other companies active in the technology sector.

Congratulations to Mr. Blondel and best of luck to him and the KitoZyme team as they work together to develop innovative solutions to preserve and strengthen the health capital of today’s population and for many generations to come.