Bank-In­de­pen­dent In­vest­ment Hou­se, GBC AG

GBC AG

Research study based on publicly available financial figures. Includes a description of the business performance, forecasts and a valuation model.

Bank-In­de­pen­dent In­vest­ment Hou­se

GBC AG, headquartered in Augsburg, is one of the leading bank-independent investment houses in Germany and an experienced issuing expert for German SMEs.

As an owner-managed company, GBC AG knows the financing needs of German SMEs and is an independent and reliable partner for all capital market issues.

Within the GBC Group, GBC AG offers corporate analysis & research, capital market & financing consulting as well as capital market conferences.

GBC Kapital GmbH complements the services in the group with corporate finance in the areas of placement & brokerage of bonds and shares.

Equity Bottom-Up

<ul><li>MustGrow's equity story remains centred on the commercial scaling of TerraSante and the longer-term value potential of its Bayer partnership.</li><li>The first Bayer development milestone resulted in C$1.36m of high-margin licence revenue in H1 2026 and provides important external validation of the TerraMG technology.</li><li>Further upside could arise from potential additional milestone payments as the programme advances.</li></ul>

MustGrow's equity story remains centred on the commercial scaling of TerraSante and the longer-term value potential of its Bayer partnership.The first Bayer development milestone resulted in C$1.36m of high-margin licence revenue in H1 2026 and provides important external validation of the TerraMG technology.Further upside could arise from potential additional milestone payments as the programme advances.

Research Update english  – MustGrow Biologics Corp. –  28.09.2026