Following the first official announcement at the beginning of December last year, Hyris completed the transfer of its shares into Ulisse Biomed via a reverse take-over transaction. The new group, strong of flawless interoperability between its leading technologies, aims to become a new benchmark of innovation in the national and international biotech market.
LONDON, ENGLAND / ACCESSWIRE / January 15, 2024 / A new international biotech group was born from the integration of Hyris Ltd, an innovative biotech company renowned worldwide for its disruptive genetic testing platform, and Ulisse Biomed S.p.A., also known as UBM Group or "UBM" only, an Italian-based publicly traded biotech company appreciated for its innovative testing platforms.
A new benchmark in the biotech market
As anticipated on December 4th, the integration between Hyris and Ulisse Biomed was officially ratified on December 21st by completing a reverse take-over operation and following the shareholders' meeting of Ulisse Biomed held earlier on that same day, which also deliberated an increase of capital in option. The overarching goal is to give life to a new Italian segment of excellence in genetic analysis based on strong innovation competencies and ready to address international markets at scale.
The new Group, with strong roots in diagnostics, teranosis and healthcare, aims to create a strong actor operating as a leader in the in-vitro diagnostics industry, particularly molecular biology, thanks to flawless interoperability between its leading technologies.
Matteo Petti, CEO of Ulisse Biomed, who will keep his role of managing director in the new corporate structure, is very positive about the whole operation, highlighting how its implications go way beyond a mere financial transaction: "We are excited to announce the integration with Hyris. By joining forces, we will enhance our product offering, combining our experience and development capabilities with Hyris' unique mix of competencies. This integration aims to capitalise on the synergies between the two companies, maximising value for our shareholders and offering unprecedented integrated diagnostic solutions to our customers." He concludes: "The success of this operation projects us towards new horizons, and the joint management will work immediately to leverage the new strategic synergies."
The new structure aims to provide an integrated array of high-end performance products at a competitive cost to meet a diverse industry demand across various markets, defining a new portfolio of distinctive analytical capabilities at a global level.
Stefano Lo Priore, founder of Hyris and former CEO and recently appointed Chairman of UBM Group, agrees: "We are proud of this integration between Ulisse Biomed and Hyris. We have a joint industrial project with a strong vision and have already received excellent feedback from the market regarding the joint proposition of our solutions. As a united company, we will be able to implement the project in a synergic manner and create a unique and distinctive offer on the global and, even more so, on the Italian biotech scene." Priore is confident about the positive outcome of this operation: "Hyris and Ulisse Biomed are now officially part of the same team, united by common values and vision and a unique industrial. We are ready for the challenges that await us, strong of the competencies that the two companies will be able to pool together."
In the next months, the new management will put into action a strategic plan to accelerate team and resource integration, leveraging the two companies' similar cultures and shared values.
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Gabriele Salaris
Global Experience Manager
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SOURCE: Hyris
View the original press release on newswire.com.