Gyros closes third funding round

16-Dec-2003

The Swedish biotech company, Gyros AB, announced today the success of their third round funding. At a total of 145 million sek (~16 million Euro) this represents the largest private venture capital biotech investment in Scandinavia this year. The international consortium of investors led by Scandinavian life science Venture (SLSV) included Investor Growth Capital, Schroder Ventures Life Sciences, 3i, Ettena Förvaltnings AB (formerly SIF), Swedish Industrial Development Fund, InnovationsKapital, Health & Brand Capital and Life Equity Sweden. Jan Sundqvist, managing partner at SLSV said, "Demands for significant improvements in lab productivity, as offered by Gyros products, are heard more and more in today's tough life science markets. We firmly believe that the Gyros concept provides a strong platform from which to develop a broad range of applications for a number of key areas. These applications will add major customer value."

During 2003 Gyros extended its first product line, Gyrolab(TM) MALDI for sample preparation in an automated protein identification setting using mass spectrometry, and launched a second product line, Gyrolab Bioaffy(TM) for protein quantitation. All products are based on the Gyros(TM) technology platform in which laboratory applications are miniaturized and integrated to improve performance and increase efficiency and productivity in the laboratory.

" The past year has been a difficult one in the biotech industry, particularly for those newly entering the market," stated Dr. Maris Hartmanis, CEO at Gyros AB, "We see this funding not only as a signal of strong support from our investors, but also as confirmation that venture capital is still available for those biotech companies that have a sound business proposition".

https://www.bionity.com/en/news/32720/gyros-closes-third-funding-round.html