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Acquisition of point-of-care diagnostics provider could reach upwards of $550M
Thermo Fisher Scientific Inc. has entered into a definitive agreement to acquire Mesa Biotech, Inc., a molecular diagnostic company, for approximately $450 million in cash. Per the deal, Thermo Fisher will pay up to an additional $100 million in cash if certain milestones are completed, following the close of the transaction.
The deal is expected to be completed in the first quarter, subject to customary closing conditions, including regulatory approval. Mesa Biotech will become part of Thermo Fisher's Life Sciences Solutions sector, once the deal is final.
Mesa Biotech has developed and commercialized a polymerase chain reaction (PCR)-based rapid point-of-care testing platform available for detecting infectious diseases, including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. Mesa Biotech's patented technology furthers the availability of nucleic acid PCR amplification to point-of-care diagnostics.
The company’s Accula Flu A/Flu B, RSV and Strep A tests have obtained 510(k) clearance and Clinical Laboratory Improvements Amendments (CLIA) waivers from the FDA. Additionally, the Accula System has received Emergency Use Authorization (EUA) from the agency for SARS-CoV-2 in vitro diagnostic testing, and is now available for use in patient care settings, providing results in 30 minutes.
This deal comes on the heels of Thermo Fisher's acquisition of Novasep’s viral vector manufacturing business last week, via an $876 million transaction.