GIMV BioConnection
Refinancing and increase of existing facilities to enable further growth
- In August 2025, Avaxa was engaged by BioConnection and Gimv to assist in the refinancing and increase of its existing facilities to enable further growth.
- BioConnection is a contract manufacturing organization focused on the fill & finish of drugs for pharmaceutical companies. The company focuses on limited volume drugs, which is a growing niche due to the growth of specialized and ‘orphan’ drugs (drugs for rare diseases).
- The company is based in the pharmaceutical cluster in Oss and is both EMA and FDA certified, and hence active mainly in Europe and the US. BioConnection is majority owned by Gimv since 2022.
- BioConnection was looking for committed financing to invest in a new filling line to enable further growth. This new line will significantly increase the company’s revenue potential, allowing BioConnection to capitalize on the growing demand in the market.
- Avaxa ran a broad process to increase competitive tension and to optimize the terms and conditions going forward. Both traditional bank lenders as well as debt funds were invited to share indicative terms.
- Avaxa prepared the information package for potential lenders, including a bank presentation, financial bank case model and Request for Proposal. Avaxa also supported BioConnection in preparing management meetings with potential lenders.
- The new financing package consists of an operational lease to fund the new filling line, combined with a factoring facility to service working capital needs.
- Throughout the project, Avaxa maintained a hands-on approach, ensuring quick response times, clear communication and active stakeholder management throughout the process.
- The transaction was closed in February 2026 with Rabobank.
