Monday, April 07, 2014

Roche To Buy U.S.-based Molecular Diagnostics Company IQuum

Swiss pharmaceutical giant Roche Holding AG said that it has agreed to acquire IQuum, Inc., a privately-held U.S. molecular diagnostics company, in a deal worth up to $450 million. Roche expects the acquisition to expand its offerings in the molecular diagnostics market.

Under the terms of the deal, Roche will make an upfront payment of $275 million to IQuum shareholders and pay an additional $175 million if that company attains product-related milestones. On completion of the transaction, IQuum will be integrated into Roche Molecular Diagnostics.

Founded in 1998 by Dr. Shuqi Chen and co-founder Keith Greenfield, Marlborough, Massachusetts-based IQuum is commercializing its lab-in-a-tube technology and products for the clinical diagnostics, bio-defense, and industrial testing markets.

Roche noted that the acquisition will provide it with access to IQuum's Laboratory-in-a-tube or Liat System, which enables healthcare workers to perform rapid molecular diagnostic testing in a point of care setting, closer to patients and with minimal training. The Liat Analyzer and Liat Influenza A/B Assay, the first test available for use on the system, produce lab-like results and are CE marked and FDA cleared.

Roland Diggelmann, COO of Roche Diagnostics said, "With IQuum, we further strengthen our molecular diagnostics offerings with cutting-edge technology and products that serve the point of care segment. Patients will benefit from on-the-spot and accurate diagnoses, which will allow healthcare professionals to make rapid, informed treatment decisions in flexible settings."


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