KKR Partners with Namal Nawana to Form Sapphiros, a Next-Generation Diagnostics Platform
Summary
MENLO PARK, Calif.--(BUSINESS WIRE)--KKR, a leading global investment firm, and Namal Nawana, the former CEO of both Smith & Nephew and Alere, today announced the formation of Sapphiros, a platform to build the next generation of diagnostic technologies. Sapphiros will invest in and provide operational support to a select cohort of innovative diagnostics companies, while leveraging Mr. Nawana’s and KKR’s collective resources and capabilities. Sapphiros has also agreed to acquire a substantial equity stake in GrapheneDx, a consumer diagnostics company that has developed a revolutionary graphene sensor-based technology for at-home and near-patient testing of a broad range of analytes. Sapphiros invests in growth-stage diagnostic companies, led by exceptional entrepreneurs, and empowers them with the full strength of the platform’s resources, capital, and expertise to accelerate and enhance growth and impact. Ultra-rapid isothermal nucleic acid amplification based on condensates is the foundation of our revolutionary rapid accessible molecular (PCR-like) disposable test program for point-of-care and consumer settings.