Genovis is reorganizing and closing its subsidiary GeccoDots

For the Group, the reorganization will entail cost and capital expenditure savings of approximately SEK 6 million over a 12-month period. All intangible and tangible assets have been transferred to the Parent Company, which decided to sell the intellectual property rights behind the Nanomotus project to the inventors against future royalties.

To date, Genovis has focused solely on customers who work with antibodies, but will now focus fully on the enzyme market and this fall will launch the first products aimed at all customers working in protein characterization.

“For the Group and everyone who works at Genovis it is extremely important to have a clear focus and dedicate all resources to the enzyme business. Both existing and new enzyme products will contribute to continued increased sales and help Genovis to achieve a positive cash flow,” says Fredrik Olsson, CEO of Genovis.

For more information, please contact: Fredrik Olsson, CEO, Genovis AB Tel: 0046 (0)46 -101233 fredrik.olsson@genovis.com

ABOUT GENOVIS

Genovis’ business concept is to offer customers in the pharmaceutical and medical device industries tools that facilitate and save time in the development of new treatment methods and diagnostics. Today Genovis sells several enzyme products known as SmartEnzymes all over the world in innovative product formats that facilitate development and quality control of biological drugs. 

The Group consists of Genovis AB and the wholly owned subsidiary Genovis Inc. (USA). 

Genovis shares are listed on Nasdaq Stockholm First North, and Consensus is Certified Adviser for the Company, t: 46 (0)31-745 50 00

This press release is a translation of the Swedish original. In the event of any discrepancy between this translation and the Swedish original, the Swedish version shall prevail.