Special guestJEAN-CLAUDE HAVAUX (ZENTECH)In many projects,the “human factor”is importantZentech is on the up. The Liège-basedbiotech company, which specializes in thedevelopment, production and marketing ofdiagnostics kits for foetus, newborn andvery young children, is in the processof finalizing a new fundraisingoperation that should bring in4.5 million euros in fresh funding. Itsdevelopment plan involves setting upa new base in Malaysia.by Madeleine DEMBOURIMPROVINGTHE HEALTH OFCHILDREN IN THEIRFIRST WEEKS OFLIFE IS AN EXCITINGAND MEANINGFULCHALLENGE.© Tilt6. Dynamisme December 2008
November. The headlines arefull of the financial crisis,but Zentech is thinking aboutincreasing its capital. The Liège-basedbiotech firm is finalizing a new fundraisingoperation that should inject 4.5million euros in fresh funding. Therange of tests developed by Zentech,which specializes in diagnostics kits forfoetus, newborn and very young children,inclu<strong>des</strong> screening for Down'ssyndrome, neonatalogy test and typeI and 2 diabetes.Going beyondthe small SME stage“Our development plan is resolutelyambitious,” explains Jean-ClaudeHavaux, who knows the companyinside out, having joined in 1985 andtaken the helm in a managementbuy-out in 2000. “Why so much ambition?We want to go beyond the smallSME stage and have a presence in allareas, reinforcing the commercialfield”, he explains. The target is theASEAN nations, where Zentech isalready active trough its Vietnamesesubsidiary, (Malaysia, Thailand,Vietnam, Laos, Cambodia, thePhilippines and Indonesia), a regionwhere the majority of births areconcentrated. It is also experiencinga significant increase in living standardsand a consequent increase inthe opportunities to test children.This is the reason for the plan toestablish a head office in Malaysia.These plans to expand into Asia arenot the only “drivers” behindZentech’s search for capital. “In ourmarket, we have to provide a complete‘package’, a bit like companiesin the automobile sector that offercomplete ranges of cars,” says Jean-Claude Havaux. “The fundamentalresearch is carried out by the universities,with which we have active partnerships.Our responsibility is development,to which we dedicate around12% of our revenues, in the sameway as the leading pharmaceuticalcompanies do”.Jean-Claude Havaux also says he is“on the lookout for external growthoperations”, which could completethe company’s technological arsenalon the one hand, but also accelerateits growth. Another vehicle for growthwill be recruitment, sometimes ofpeople with a very specific profile,who are not always easy to find onthe Belgian market. The ‘BusinessPlan’ calls for the recruitment of25 people for the Sart-Tilman sitenear Liège, and 15 people for theMalaysian head office.Currently, Zentech’s shareholdersare as follows: the founding executivesown 54.1% through theirMorpho holding company, while theSRIW (Wallonian Regional InvestmentCompany) and Unibra own 14.7%,Meusinvest has a 8.1% stake and8.4% is in the hands of a privateinvestor. With the exception ofMorpho, all the shareholders haveagreed to contribute to the newshare issue, with the balancecoming from various investors andspecialist funds.Michel MORANT,University of Liege interfaceThree questions forMichel MORANTSome Walloon start-ups are afraid of rapid growth.What made Zentech decide to take the fast lane?To continue to exist, a company must develop and grow.Sometimes that requires a large financial injection, whichcan call the founders into question. The role of the foundermust therefore be clear from the start.Zentech has fully involved itself in the BioWin project:what lessons can you draw after two years of life ina competitiveness cluster?The impact of the clusters will only be tangible in a fewyears. But they allow a revolution in intercompanycontacts, which had been rather weak before. For SMEs,the preoccupation with excellence sometimes overshadowsmore “down to earth” projects. They need to focus moreon projects that are closer to their core business.Zentech works a lot with universities:what lessons have come out of this experience?The critical factor is the relationships between people,the trust between interlocutors. The universities needto be able to push the proof of feasibility of their discoveriesfarther. Then the companies would be more confidentin signing contracts and the universities could negotiatefrom a stronger position.Company profileCompany: ZentechDate of incorporation: 1985 – MBO in 2000Sectors:• Clinical biology diagnostics• Prenatal• Neonatal• Pediatrics < 14 years old• Development, production and salesNumber of employees: 432008 turnover: 4.7 million eurosR&D: 500,000 eurosExports: 90%© TiltZENTECHLiège Science ParkAvenue du Pré-Aily 10B-4031 Angleur-BelgiumTel: +32 (0)4 361.42.32Fax: +32 (0)4 367.00.63info@zentech.be - www.zentech.beDynamisme December 2008 .7
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