Growth Capital facilitates the sale of Hyris Ltd to Ulisse BioMed for €26.2 million in a strategic reverse takeover intended to advance capabilities in the in vitro diagnostics sector.

Information on the Target

Hyris Ltd is a cutting-edge technology company operating at the crossroads of artificial intelligence (AI), medical technology (medtech), and biotechnology (biotech). The company has developed an innovative AI-driven technology platform that encompasses software, devices, and tests for user-friendly PCR genetic testing of biological samples. This platform is versatile, allowing testing in various settings and applications across human, animal, and plant health, as well as environmental and nutritional sectors. In the fiscal year 2022, Hyris recorded revenues of €4.3 million.

Industry Overview in the Target’s Specific Country

The in vitro diagnostics industry in [Country Name] is experiencing substantial growth, driven by technological advancements and increasing healthcare demands. The rising prevalence of chronic and infectious diseases, along with the growing emphasis on personalized medicine, fuels the need for precise diagnostic tools. Furthermore, the integration of AI into diagnostics is revolutionizing the sector by enhancing speed and accuracy, factors that are crucial in clinical decision-making.

In recent years, the biotechnology sector, particularly the diagnostics segment, has garnered significant investment, reflecting a broader trend toward innovation and high-quality healthcare solutions. Companies like Hyris are