PPF Biotech is the biotechnology division of PPF Group and eureKING is the first European SPAC focused on biotechnology manufacturing. Following the closing of the transaction, PPF Biotech will acquire a minority stake in eureKING and will participate in the creation of a new European leader in biotechnology manufacturing. The company's shares will subsequently be listed on the Euronext Paris exchange.

SPAC (Special Purpose Acquisition Company) is a company that is established for public trading on the stock exchange. The company raises money from investors and must use that money within two years of its formation (otherwise the money is returned to the investors) to purchase a stake in a selected operating company that is not yet publicly traded. Under the pending transaction, SCTbio's assets are worth approximately EUR 19,5 million. EureKING will acquire these assets for a total cash payment of EUR 13,08 million, equivalent to 67 % of the total value of the company. At the same time, PPF Group will acquire a stake in eureKING representing 33 % of SCTbio's value.

Biotechnology, an emerging and promising field of medicine, is looking for new ways to treat specific diseases. It focuses on how to use cells and, for example, a person's own immune system instead of chemicals to treat them. SCTbio has been manufacturing these special products for 13 years.

PPF Group operates in 25 countries in Europe, Asia and North America. Its investment portfolio covers a variety of sectors, including financial services, telecommunications, media, biotechnology, real estate and engineering. The Group's major players include Home Credit, Air Bank, telecommunications companies Cetin and O2, real estate group PPF Real Estate Holding, engineering company Škoda Group and Czech toll operator CzechToll.