Devyser completes private placement of SEK 130 million to Swedbank Robur and AP4
Stockholm, February 2, 2021 – Devyser Diagnostics AB (publ), a Swedish molecular diagnostics company, today announced the completion of a private placement of 7,465 shares, corresponding to SEK 130 million before issuance costs, to Swedbank Robur and the Fourth Swedish National Pension Fund (AP4). The purpose of the issue is primarily to finance the company’s global marketing and sales expansion.
As part of the private placement, Swedbank Robur and AP4 subscribed for shares valued at SEK 80 million and SEK 50 million, respectively. Following the issue, they will hold 12 percent and 8 percent, respectively, of the total number of shares and voting rights in the company becoming the company’s second and fifth largest owners.
“We are proud to attract such highly reputed and capable investors as Swedbank Robur and AP4. This provides a clear mark of quality and validation of the company and our products,” said Fredrik Alpsten, CEO of Devyser Diagnostics. “We believe we are just starting what could be a very favorable expansion of our business. The issue is an important milestone for Devyser and allows us to increase our global growth initiatives and invest in the further development of our product portfolio.”
Devyser Diagnostics is specialized in the development, manufacture and sale of market-leading genetic diagnostic kits in over 60 countries. Development and manufacturing take place in Sweden while sales are conducted from the company’s offices in Sweden, Germany and Italy. The company has reported annual growth (CAGR) in excess of 30 percent since 2016 and with a positive EBIT. Additional capital is needed to accelerate the growth rate, expand to new markets and develop the company’s product portfolio. The share issue is a time and cost-efficient way to finance the company’s expansion and simultaneously broaden the ownership base with experienced institutional investors.
“We are very impressed by Devyser’s success to date. The company has demonstrated stable and profitable growth for several years and we are convinced that the increased funding will enable the already successful journey not only to continue but also accelerate. We now look forward to following the company as an owner,” said Henrik Carlman, Fund Manager at Swedbank Robur.
Devyser Diagnostics has engaged Carnegie Investment Bank as financial adviser and Hammarskiölds Advokatbyrå as legal adviser.
For more information, please contact:
Fredrik Alpsten, CEO of Devyser Diagnostics AB (publ)
E-mail: fredrik.alpsten@devyser.com
Tel: +46 706 673 106
About Devyser Diagnostics AB (publ)
Devyser is specialized in the development, manufacture and sales of diagnostic kits. The products are sole in more than 60 countries. The products are used for complex DNA testing within oncology, hereditary diseases and transplantation. The products are used to guide targeted cancer therapies, to enable a wide array of genetic tests, as well as in post-transplant follow-up. Devyser’s product development focuses on simplifying and streamlining complex testing processes to improve throughput, reduce hands-on time and produce accurate and trusted results. Devyser was founded in 2004 and is based in Stockholm, Sweden.
For more information, please visit www.devyser.com.