Genovis is Reorganizing and Closing its Subsidiary GeccoDots

September 25, 2015 | Press Releases |

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.