GU Ventures is delighted to announce the sale of its shares in Kromnigon, one of its promising incubator companies, to entrepreneur Matthias Papp and his company Emerge Investment Group. Kromnigon has during that time developed and validated its two products, SpectraSplit and FlexiStain, which are about to be launched on to the market. Kromnigon remains in the incubator at GU Ventures.
Kromnigon is a start-up that was founded only two years ago by the researchers Per Fogelstrand and Ulf Yrlid at the University of Gothenburg, together with GU Ventures, a state owned incubator and seed investor in Gothenburg with the mission to support new business ideas in the start-up phase. The Kromnigon team have achieved their primary development goals and are ready to launch their new products on the market, thanks to support from its founders and GU Ventures, as well as VINNOVA and the Research and Innovation office at the University of Gothenburg.
-“We are really pleased to have been so successful in the development of Kromnigon so that a commercial partner wants to acquire our part of the business this early on”, says Klementina Österberg, CEO of GU Ventures. “It is thanks to the devoted people that developed Kromnigon, such as its founders, its partners and the staff at GU Ventures, foremost my colleague Lorna Fletcher, our IPR Expert and Business Developer who has operated as Kromnigon’s chairwoman.”
When a suitable opportunity came up to move forward with Matthias Papp and his company, Emerge Investment Group, the parties didn’t hesitate. They all valued the collaboration that provides a strategic alliance to Kromnigon. In line with its mission, GU Ventures sold its shares in Kromnigon to Emerge and supports the forming of the alliance.
-“Matthias Papp is the ideal owner and investor for Kromnigon”, adds Lorna Fletcher. “He shares our vision for Kromnigon and I am confident that he, together with Per, Ulf and Alexander Lagerman, who is the Operations Manager of the business, will make Kromnigon a great success. I am excited about Kromnigon’s future and look also forward to seeing what Per and Ulf invent next and add to Kromnigon’s portfolio of new products.”
In two years, GU Ventures has earned four times its investment in Kromnigon and will use the earnings to invest in new ideas. Kromnigon will remain in the GU Ventures’ incubator and continue to receive business development support.
-“We are grateful for the investment and incubation support that we receive from GU Ventures”, express the two inventors and co-founders, Per Fogelstrand and Ulf Yrlid, researchers at the University of Gothenburg. “We are looking forward to our market launch and expanding sales throughout 2017 and onward together with Emerge.”
The main goal is to establish a commercial viable business by selling the two patented products, FlexiStain and SpectraSplit that greatly simplify the use of multicolour fluorescence microscopy.
For more information, pls contact:
Lorna Fletcher, + 46 (0)73 - 416 7084, email@example.com.
More about Kromnigon:
Kromnigon AB is a Swedish biotechnology company currently focused on developing and marketing new multi staining solutions for histology. FlexiStain is a toolbox with reagents that enables fast, flexible and simultaneous staining of many structures. SpectraSplit is an add-on for microscopes consisting of a unique combination of light filters which give clearer detection of more structures. Although the products stand alone and offer benefits over existing methods and tools, it is using the two products together that offers the greatest benefits and is most exciting for its customers, who are researchers and clinicians. Welcome to visit: www.kromnigon.com.
More about GU Ventures:
GU Ventures AB is fully owned by the Swedish government since 1995 and is managed since 1998 by the University of Gothenburg. The aim is to develop new companies based on the cutting edge research performed at the University of Gothenburg and the mission is to ensure that the research and knowledge created at the University of Gothenburg is used to deliver economic, social and cultural benefits both nationally and internationally.
GU Ventures is today one of Sweden’s most highly ranked incubators. It has initiated and financed 137 companies and projects so far. They employ 300 persons, have attracted 1 billions of SEK and have had a total turn-over of 2 billions of SEK during the last decade. 30 of them are in the incubator process right now, 30 of them have been sold and 10 of them are listed on a stock exchange. The incubator actively supports start-ups within business development, market research, technological development and intellectual property rights as well as strategic, managerial, administrative and organizational support. Welcome to visit: www.guventures.com.
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