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InDevR Spins Off ViroCyt, Raises Growth Capital

Awardee Story InDevR Spins Off ViroCyt, Raises Growth Capital
Date: Jan 15, 2013

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DENVER, CO--(Marketwire - Jan 15, 2013) -
ViroCyt, LLC
, a privately-held life science company,
announced today that it had begun operations after sp
inning 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 Vi
rus Counter provides rapid quantification of viruse
s
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 vaccin
e 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 ye
ars. 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 th
e 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," sai
d
Dr. Kathy Rowlen, co-founder and CEO at InDevR. "With Robert Kline's demonstrated success in building
companies focused on customer satisfaction and meet
ing 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 2
012 to focus on the commercialization of novel technologies that enabl
e
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 deve
lopment 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 instrument
ation 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, ve
nture capital funds that invest in seed and early
stage businesses in Colorado. The Fund focuses on th
e life sciences, information technology, retail and
consumer goods sectors. High Country Ve
nture is located in Boulder, Colorado.

Contact information

Innovation Development Institute, LLC

   45 Beach Bluff Avenue, Suite 300
     Swampscott,  MA 01907-1542

  Tel:  (781) 595-2920

  support@inknowvation.com