A new international biotech group was born from the integration of Hyris Ltd, renowned worldwide for its disruptive genetic testing platform, and Ulisse Biomed S.p.A., also known as UBM Group or “UBM” only, a leading Italian-based publicly traded biotech company appreciated for its innovative testing platforms.
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.
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 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.
Bruna Marini, Co-Founder & COO at Ulisse Biomed, also thinks that the synergies between the two ‘parent companies’ will be able to generate a higher value compared to what each one could have achieved individually: “On one hand, the innovative platforms of reagents designed and produced by UBM provide a wide and solid portfolio of reliable testing solutions to meet demand across diverse industries; on the other”- she continues – “Hyris’ qPCR versatile testing system, together with its cutting-edge interpretive software, offer seamless integration of both proprietary and third-party tests, ensuring real-time access to the testing results also automatically interpreted via its unique cloud computing platform.” Marini goes on to highlight the added value of the new unified structure: “The integration of Hyris and Ulisse Biomed is based on such a strong complementarity of their respective technologies that it will allow us to exploit their strengths at scale in an unprecedented way. We foresee the exploitation of the full array of the group’s industrial skills to better serve the whole supply chain, adapting all reference technological platforms to the different market challenges.”
Lorenzo Colombo, CTO at Hyris, goes even further, pointing out the technical details behind the integration of the two companies: “Our synergy is both technological and business-related: from a technical point of view, our complete, validated and vertically integrated technological system perfectly fits with Ulisse’s platforms; we are now able to fully leverage all the components of our system (hardware, software and reagents, N.d.R.)”. Colombo continues: “Being able to supply every part of the system, without having to rely on external suppliers for missing components, really constitutes a tremendous advantage, what has been – to date - the prerogative of a small number of large companies. I’m excited because I see the premises for a new industrial paradigm”.
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.
The new industrial plan will lay its foundations both on closed-platform solutions (closed solutions fully developed internally in strategic areas which show promising development trends) and open-platform (integrated third-party solutions via the integrated system developed by Hyris). The coexistence of both business lines will guarantee a strategic and distinctive presence in most application areas and the attraction of potential customers and new users of genetic analysis platforms and RT-PCR.
Stefano Lo Priore, founder of Hyris and former CEO and recently appointed Chairman of UBM Group, states: “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.
Stars are born as a result of extraordinary attraction forces, and the world of companies makes no exception: a new star is born into the biotech firmament.
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