NEWSLETTER #09 MARCH 2018

On December 22nd, 2017, Innovation Fund increased its capital by 8,36 Mo EUR, to 28,36 Mo EUR. Some existing shareholders increased their investment and we had the pleasure to welcome 5 new investors:

CAPITAL INCREASE

Christeyns, Ghent, active in hygiene, engineered chemicals and construction chemicals; 850 employees and sales of around300 million EUR.

Hutchinson, Paris, world leader in anti-vibration systems, fl uid management and sealing solutions; a Total subsidiary, with 41.000 employees in 25 countries and a turnover exceeding 4 billion EUR.

ParticipatieMaatschappij Vlaanderen, the holding company of the Flemish authority with new investments of 238 Mo EUR in 2016 and a total invested capital of 1.2 billion EUR.

Universiteit Gent, one of the most important universities of Belgium, with 42.000 students and 11 faculties, wellknown for its scientifi c excellence.

Universiteit Antwerpen, created in 1971 by the merge of UFSIA, RUCA and UIA hosting 20.000 students and enjoying a special reputation in biosciences.

Sofi pôle (SRIW) and Meusinvest were host to the board and investment committee meetings on November 7th, 2017. They organised a visit of Prayon in Engis, led by CEO Yves Caprara.

The venue was in the beautiful Château de Colonster, where we were welcomed by Karl Adams and Fabian Marcq.

HOSTS OF THE WINTER:SOFIPÔLE AND MEUSINVEST

MEET FABIAN MARCQ & KARL ADAMS, REPRESENTING RESPECTIVELYMEUSINVEST & SOFIPÔLE IN THE BOARD OF INNOVATION FUND

What is your background?Karl Adams: After a master’s degree as a commercial engineer HEC Liège (1994), I began my career as an auditor for PWC in Brussels. Than I have worked for 17 years as a manager in corporate and commercial banking for ING in Brussels and

in Wallonia. In December 2010, I have been appointed by the Walloon Government as a director of SRIW, before joining the Executive Committee as a Vice-President in December 2013. I’m also director of the SRIW Environment subsidiary, which is active in renewable energy and in circular economy, and member of the Board in different companies and private funds (among which Otary, Seastars, Sofi nex, Innovation Fund).

Fabian Marcq: After several functions in Economic development and fi nancial analysis, I joined Meusinvest Group as Deputy General Manager in 2000.

What is your experience with Innovation Fund after 3 years? What are your expectations? Karl Adams: My experience with Innovation Fund after three years is mainly to have the opportunity to examine innovative projects located in Wallonia, as it was already the case of Lisam and Aerosint for example. My expectations as a representative of the SRIW are to support an important industrial project, to develop a network thanks to the quality of IF’s shareholders and to have a longer-term return on our investment.

Fabian Marcq: Innovation Fund’s experience is unique ! It’s the meeting point of well-known person-alities from de chemical industry and innovative projects. The professionalism and experience of the members of the Circle, as well as the involvement of Belgian industrial groups of international reputation constitute in itself a pledge of seriousness and expertise. This fund represents an oppor-tunity to reinforce the Group’s investment strategy in the sector of Chemical Industry.

INVESTMENTS UNDER REVIEW

A Spin-off of KULeuven, Zeopore aims at creating superior zeolites to improve the

catalytic yield in chemical processes. The process to modify the zeolites has been discovered by the team of Professor Bert Sels. During the last 2 years, the project has enjoyed the active support of the Innovation Circle.

INVESTMENT IN BONEVET

On December 21st, 2017, IF invested 150 kEUR in BoneVet, founded by Enrico Bastianelli. BoneVet’s business concept is to leverage human proven preclinical and clinical programs and marketed products for the treatment of orthopaedic (bone, joint, tendon/ligament) conditions in dogs and horses.

ZEOPORE

Created by Emiliano d’Agostino on results from SCK CEN research, DoseVue wants to optimize the medical use of

radiation in cancer treatment in order to prevent or avoid short and long term complications, arising from irradiating healthy tissues.

It offers a complete monitoring system in the specifi c hypo fractionation radiotherapy segment, where a high dosis is used in a very short time. First applications will be prostate, breast and skin cancers.

The unique value of DoseVue comes from the “dosimetric” optical fi bre, combined with easy to use hard- and software. First sale in preclinical lab occurred end of 2017.

DOSEVUE

Chief editor FRANÇOIS CORNELIS Chairmanof the Innovation Fund

Contact: Edith Couneedith.coune@gmail.com+32 475 90 15 10www.innovationfund.eu

Fabian MarcqMeusinvest

Karl AdamsSofi pôle