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InDevR Spins Off ViroCyt, Raises Growth Capital
DENVER, CO, Jan 15, 2013 (MARKETWIRE via COMTEX) --
ViroCyt, LLC, a privately-held life science company, announced today
that it had begun operations after spinning off from InDevR, Inc.
Concurrent with the formation of ViroCyt, funding was secured from a
group of investors led by High Country Venture, a Colorado Venture
Capital Fund. ViroCyt will be responsible for expanding the
commercial market for the Virus Counter technology developed by
InDevR. The Virus Counter provides rapid quantification of viruses,
resulting in faster, more accurate decision-making in settings that
utilize viruses to create lifesaving products, such as viral vaccine
production, protein expression, antiviral drug development, and viral
diagnostics.
"Within the life science research, pharmaceutical and vaccine
markets, there is a large and growing need for rapid quantification
of viruses, so I am excited to be part of the formation of ViroCyt,"
stated Robert Kline, President and CEO. "The Virus Counter represents
breakthrough technology in this important field and the early
customer acceptance has exceeded all expectations." Examples of
organizations currently utilizing the Virus Counter include top
global vaccine companies, biotechnologies, domestic and foreign
government research institutes and universities.
According to Mark Lupa, Managing Director at High Country Venture,
"We have been monitoring the innovative developments at InDevR for
several years. The opportunity to form a company around
commercialization of their first product represents a unique
investment opportunity." The recently raised growth capital will be
used primarily to build out the North American direct sales force and
expand its international network of distributors in order to
recognize the growing global demand for rapid virus quantification
technology.
"We are tremendously enthusiastic about transitioning the Virus
Counter technology to ViroCyt, LLC," said Dr. Kathy Rowlen,
co-founder and CEO at InDevR. "With Robert Kline's demonstrated
success in building companies focused on customer satisfaction and
meeting market demands, I am confident that the Virus Counter can
significantly improve vaccine production as well as positively impact
a number of other virus-related industries."
About ViroCyt, LLC
ViroCyt, LLC was created in late 2012 to focus on
the commercialization of novel technologies that enable rapid
quantification of viruses, such as the Virus Counter 2100. The
Company's mission is to provide the tools that deliver meaningful
improvements to critical biotechnology processes such as vaccine
manufacturing, protein expression, antiviral development and other
settings where viruses play a significant role. To learn more about
ViroCyt, go to http://www.virocyt.com.
About InDevR, Incorporated
InDevR develops innovative life science
instrumentation and assays for analysis of viruses and other
microorganisms. InDevR's goal is to revolutionize microbiological
analysis and deliver results in significantly less time and at lower
cost than traditional methods.
About High Country Venture, LLC
High Country Venture manages
Colorado Funds I & II, venture capital funds that invest in seed and
early stage businesses in Colorado. The Fund focuses on the life
sciences, information technology, retail and consumer goods sectors.
High Country Venture is located in Boulder, Colorado.
Contact Info
Michael Artinger
ViroCyt, LLC
+1-720-771-6670
Email Contact
SOURCE: ViroCyt, LLC
http://www2.marketwire.com/mw/emailprcntct id=45317D719CBCA477
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