GIN and Sigolis merge to create new company, Ginolis Oy

Global Innovation Network Oy (GIN) and Sigolis AB today announced a merger of the two companies. The new company, named Ginolis Oy, provides an innovative one-stop solution for the development and manufacturing of in vitro diagnostic (IVD) disposable products.

Over the last four decades, the electronics industry has revolutionized the world with ever-increasing functionality at ever-lower costs, e.g. computers and mobile communications. Ginolis now makes these technologies available to the IVD and point-of-care (POC) diagnostic industry. The company applies precision semiconductor processes to manufacture templates and tools for disposable parts, and masters the use of modular automation systems for assembling electronics.

Headquartered at GIN's existing site in Oulu, Finland, Ginolis will also keep the Sigolis facility in Uppsala fully operational. The new company, which currently employs 35 people, intends to strengthen its operations in both Uppsala and Oulu. Mr. Teijo Fabritius, co-founder and CEO of GIN Oy, has been appointed CEO of Ginolis, while Mr. Simon Uhrberg, co-founder and CEO of Sigolis, will take the position of COO at the merged entity.

"From our experience, the IVD industry has not yet applied state of the art assembly solution technology in the manufacture of diagnostic tests. We believe our capabilities will go a long way towards advancing the development of the next generation of Point of Care testing systems, where superior performance and rapid results can both be achieved in virtually any setting," stated Teijo Fabritius. "Individually, GIN and Sigolis served a number of customers in the IVD industry worldwide. The combination of the two companies increases not only our existing customer base significantly but lays the foundation for solid future growth."

With its unique knowledge of cost-efficient, high-volume/quality production and extensive experience of IVD POC product development, Ginolis intends to become a complete and competent partner for the IVD industry. The new entity offers its customers unique opportunities through improved efficiency and cost savings when manufacturing existing products as well as the enticing possibilities in developing completely new products.

"Adding Sigolis' advanced manufacturing techniques for the components of the final products gives Ginolis a strong competitive edge," commented Simon Uhrberg. "The recent acquisition of Stockholm-based technology company Celoxio, which has developed a unique technology for integrating electrically-controlled valve functions into microfluidic devices, elegantly and cost-efficiently solves the problem of timely control of reactions, the largest driver causing variation in detection quantitation. This will enable us to provide even more sophisticated solutions to our customers."

Recently, Sigolis raised 2.5 M SEK in a directed share offering to Almi Invest, one of Sweden's most active investors in young growth companies. "It is with great pleasure that we welcome Almi Invest as a competent and active shareholder," said Mr Uhrberg. "We had been following Sigolis for some time and look forward to getting more deeply involved as this promising and exciting company evolves and grows," adds Mr Allan Asp, Investment Manager, Almi Invest.

Source: Ginolis Oy