Cavidi raised $11.5M in financing from Impilo

Cavidi, an Uppsala, Sweden-based biotech company, announced the completion of a $11.5M capital investment round. The money was provided by Swedish private equity firm Impilo.

Cavidi, led by CEO John Reisky, was founded as a spin-off from Uppsala University. The company focused on HIV Viral Load monitoring and has developed a new fully automated viral load diagnostic platform - Ziva - that aims to meet the need for cost-effective monitoring in high-disease burden countries.

The changes in ownership also mean a change in the composition of Cavidi’s Board of Directors which now consists of Chairman Erik Walldén; Ernst Westman; Cynthia Collins and Impilo partners Fredrik Strömholm and Veronica Byfield Sköld.

Cavidi’s head office is in Uppsala, Sweden with sales offices in South Africa, India and USA and with customers including hospitals, patient clinics, private laboratories, the pharmaceutical industry and research institutions worldwide.

Prior to this round, Cavidi added €7.8 million in the books, €3.3 in equity and €4.5 in debt financing, all in 2017.