Growth Capital supports Hyris Ltd shareholders in their binding agreement to sell 100% of the company to Ulisse BioMed (UBM) for €26.2 million in a reverse takeover deal.
 
Hyris is a hi-tech company active at the intersection of #AI, #medtech and #biotech. Hyris developed an AI-driven technology platform (software, device, tests) that enables easy-to-use PCR genetic testing of biological samples in any setting, at any time, with multiple medical and industrial applications (human, animal and plant health, environment, nutrition). The Hyris Group closed 2022 with €4.3 million revenue.
 
The transaction, subject to UBM shareholders’ approval, aims to create a new integrated group operating in the in vitro diagnostics industry, and in particular in molecular biology, with a distinctive positioning guaranteed by the presidium of the entire value chain and by the technological innovation characteristics of the reagents designed and produced by UBM, on the one hand, and of Hyris’ PCR instrumentation and interpretive software, on the other.
 
“We are delighted to have played a pivotal role in coordinating this cross-border transaction, overseeing Hyris’ binding agreement for the planned reverse takeover. Our pride is twofold – having supported Hyris in its growth journey for years, dating back to their Series A round led by Astanor Ventures in 2020, and today, culminating in this significant and strategic step forward” comments Andrea Casati, Vice President of Growth Capital.
 
Stefano Lo Priore, Founder and CEO of Hyris, said, “We are proud of this ongoing transaction between Ulisse Biomed and Hyris. We have a joint industrial project with a strong vision and which has already received excellent feedback from early customers on the joint proposition of our solutions. As a united team we will be able to implement the project synergistically and give birth to a unique and distinctive reality on the global, and even more so on the Italian, biotech scene”.