Industry News

Our news page will keep you informed of press releases and news articles on rapid and alternative microbiological method technologies and updates from technology suppliers.

Please click here to submit your news.

Quidel Completes Acquisition of BioHelix Corporation

Quidel Corporation, a provider of rapid diagnostic testing solutions, cell-based virology assays and molecular diagnostic systems, announced today that it completed the acquisition of BioHelix Corporation (BioHelix).

According to the terms of the deal, Quidel will pay BioHelix shareholders $10 million in cash, plus additional amounts in connection with an R&D earn-out based on the completion of a designated number of assays and a commercial earn-out dependent on product sales over a defined period.

Based in Beverly, Mass., BioHelix Corporation was established in 2004, and is among a number of successful enterprises spun-off from New England Biolabs, Inc. In October 2009, BioHelix entered into a collaborative R&D agreement with Quidel under which the companies would co-develop a number of hand-held, disposable molecular assays using BioHelix's proprietary isothermal Helicase Dependent Amplification (HDA) technology.

"The collaboration between BioHelix and Quidel has been effective and productive. Further, with the launch of AmpliVue C. difficile, we have demonstrated customer receptivity to a hand-held, disposable molecular platform, which gives us confidence that this additional investment in BioHelix and its isothermal amplification technology is warranted," said Douglas Bryant, president and chief executive officer of Quidel Corporation. "HDA provides both speed and ease-of-use, without sacrificing sensitivity or specificity, and we believe this technology will not only benefit AmpliVue, but Project Wildcat as well."

With the acquisition of BioHelix Corporation, Quidel plans to accelerate the development of its AmpliVue isothermal assays and lower the associated manufacturing costs for those assays. Quidel currently sells the AmpliVue C. difficile Assay, which received FDA clearance in December of 2012.

Quidel plans to operate BioHelix as a wholly owned subsidiary of Quidel Corporation, and Dr. Huimin Kong, Ph.D., will remain as president of BioHelix.

"We welcome Dr. Kong, BioHelix, and its employees to the Quidel family, and are excited to add isothermal molecular assay development and enzyme manufacturing to our growing list of core competencies," added Bryant.

About Quidel Corporation

Quidel Corporation serves to enhance the health and well being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system. Marketed under the QuickVue®, D3® Direct Detection and Thyretain® leading brand names, as well as under the new Sofia® and AmpliVue® brands, Quidel's products aid in the detection and diagnosis of many critical diseases and conditions, including, among others, influenza, respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel's research and development engine is also developing a continuum of diagnostic solutions from advanced lateral-flow and direct fluorescent antibody to molecular diagnostic tests to further improve the quality of healthcare in physicians' offices and hospital and reference laboratories.

Post a Comment

Previous Post Next Post

Contact Form