Tuesday, January 15, 2013

InDevR spins off company, raises capital

Boulder County Business Report | Today's News | InDevR spins off company, raises capital

By Beth Potter January 15, 2013

BOULDER - Bioscience firm InDevR Inc. in Boulder has spun off its virus-counter technology forming ViroCyt LLC, a life-science company based in Denver.

ViroCyt has raised $3 million to expand the commercial market for the virus-counter technology, said Robert Kline, the Denver company's president and chief executive. InDevR is a shareholder in the new company, Kline said. The virus-counter technology already is being used by vaccine companies such as GlaxoSmithKline plc (NYSE: GSK), based in the United Kingdom, as well as biotechnology companies and research institutes and universities, ViroCyt said in a press statement.

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