(Alliance News) - The number of SMEs listed on Italy Growth rises to 196 Tuesday with the entry of Cube Labs Spa to Piazza Affari after a EUR4.1 million IPO.

Cube Labs is a venture builder specializing in the development of projects in the Healthcare & Life Sciences sector. The company selects projects and applied research activities to create new companies and contribute to their growth by promoting scientific research activities and the development of innovative healthcare solutions.

The free float at the time of admission is 12 percent and the market capitalization at IPO is EUR34.1 million.

Filippo Surace, CEO and founder of Cube Labs, said, "The listing of Cube Labs on Euronext Growth Milan represents a historic moment because today Italian academic research enters, with an innovative business model, the capital market. The listing project, launched today, will allow the company to grow and affirm its model based on a high rate of innovation thanks to the research and technologies developed by the companies in our portfolio, in a rapidly evolving sector in Italy and worldwide such as Life Science, the new frontier of healthcare."

"We have received positive feedback from professional investors and access to the Italian Stock Exchange will allow us to support our growth strategy, especially at the international level, including through the creation of science companies in the biotech and medtech sectors, leveraging our network in the academic world, according to the innovative model of mixed public-private technology transfer. Our ultimate goal is, in fact, to accompany scientific research projects in their commercial development in markets with strong growth potential."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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