Gyros completes record financing round:
This article was originally published in Clinica
Executive Summary
Swedish microfluidic technologies company Gyros (Stockholm) has completed what it says is the largest single round of biotech venture funding the country has seen. New investors, led by 3i, have backed the company to the tune of SKr309 million ($30 million) in the round which finished this month. Other new shareholders include the Swedish Industrial Development Fund, InnovationsKapital and H&B Capital. Last year, in the first round, Gyros raised SKr285 million. The microfluidic/microchip market for life sciences is expected to reach $1.2 billion by 2004, say analysts. Gyros, with a proteomics segment product launch slated for 2002, is poised to benefit from the market upsurge.