Ulisse BioMed (UBM) is an Italian Diagnostic company active in development of real time-PCR molecular diagnostic assays and other innovative technologies. Listed on EGM in 2021, after the merger with Hyris Ltd (1Q24), UBM became provider of an integrated PCR system via a flexible platform for medical purposes and many other verticals.
Few shadows: weaker growth/higher burn rate vs our FY24E, but most of work is done (only funding still needs fine-tuning).
Fair value at €0.98 p.s.
