PROXY Laboratories B.V.

Previous participations

PROXY Laboratories BV (‘PROXY’) is a contract laboratory, with a focus on quality control of (bio) pharmaceutical raw materials and medicines, stability studies and validation of analytical methods for the (bio) pharmaceutical industry. The company was established in April 2001.

Écart – lead party for a total of EUR 2 million equity – and BioPartner Start Up Ventures CV, the management and four informal investors, participate since the company’s establishment. ABN AMRO Bank (Leiden) provided the bank financing through an SME Loan Guarantee Credit of EUR 1.2 million.

Écart and BioPartner played an active role in the composition of the Supervisory Board. In the selection of commissioners, expertise and industry and entrepreneurial experience came first. As lead party, Ëcart gave direction to strategic choices, including price adjustments, staffing, planning growth strategy and the related investment decisions.

In 2001-2005 PROXY realizes a negative cash flow. Écart played an active role in communicating with the bank by streamlining the information and by strengthening the liquidity position of PROXY through deferral of redemption of the shareholder loans.

Since participation five investment rounds in decreasing size were realized. PROXY is profitable since 2006.
Under the guidance of Écart, the reporting quality and routine improved. A financial controller from the Écart network improved the report quality. Écart identified which management information was necessary to improve the transparency of processes. These improvements benefit the quality of decision making. In 2011, practically all Ducth biotech and pharmaceutical companies in the Netherlands are client. Also, the company’s services extend to clients in Europe, Middle East and Asia.

In 2012 the management realizes a management buy-out, together with a strategic party. They herewith buy out the shareholders who made PROXY’s start and growth possible. The management alters its minority stake into a controlling interest. The strategic party acquires a minority stake in the company.