Growth Capital supports the shareholders of Hyris Ltd 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 high-tech company operating at the intersection of #AI, #medtech, and #biotech. Hyris developed an AI-driven technology platform (software, devices, 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 in revenue.
The transaction, subject to approval by UBM shareholders, aims to create a new integrated group operating in the in vitro diagnostics industry, particularly in molecular biology. The distinctive positioning will be ensured by the integration of the entire value chain and by the technological innovation of the reagents designed and produced by UBM, on one hand, and 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, Growth Capital.
