NEW YORK – Swedish molecular diagnostics firm Devyser Diagnostics said on Tuesday that it has completed a SEK 130 million ($15.4 million) private placement of 7,465 shares with Swedbank Robur and Fourth Swedish National Pension Fund (AP4).
Devyser will use the proceeds to finance its 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. The firms will hold 12 percent and 8 percent respectively of the total number of shares and voting rights in and will become the firm's second- and fifth-largest owners.
"We believe we are just starting what could be a very favorable expansion of our business," Fredrik Alpsten, CEO of Devyser, said in a statement. "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 received a €750,000 ($909,000) grant through the Eurostars-2 program last month to develop a NGS assay for monitoring graft status and early detection of kidney transplant rejection.