Roche has entered a definitive agreement to acquire LumiraDx’s point of care (POC) technology in a deal worth up to $350m.

Roche will pay a purchase price of $289m for the acquisition, along with an additional payment of up to $55m to fund operations of POC technology platform business until the acquisition closes, as per a 29 December 2023 press release. The deal is expected to close by mid-2024.

Following the news, the stock price of LumiraDx group was down by over 21% in pre-market trading on 2 January, compared to the market close on 29 December 2023.

As per Roche, the acquisition offers them a wide range of immunoassay and clinical chemistry tests, which have the potential for additional high-medical value tests in the future. The test does not require specialised cold storage and can, therefore, enable convenient handling in a range of decentralised healthcare settings. LumiraDx’s POC tests include a CE-marked HbA1c test. The microfluidic immunofluorescence assay, which is used in conjunction with the POC platform, provides results in less than seven minutes from sample application.

Roche’s portfolio includes several immunoassays to diagnose a variety of conditions. In June 2023, it secured the US Food and Drug Administration (FDA) 510(k) clearance for two assays, namely Elecsys beta-Amyloid (1-42) CSF II (Abeta42) and Elecsys Total-Tau CSF (tTau) assays. These assays help to measure two Alzheimer’s pathology biomarkers, beta-amyloid and tau proteins, in adults aged 55 years and above.

In October 2023, the company received a CE mark for its Elecsys interleukin 6 (IL-6) immunoassay to be used as a diagnostic test for neonatal sepsis. The test provides a quantitative analysis of IL-6 in serum and plasma. It takes 18 minutes to run and needs 18μL or 30μL of blood. A month later, Roche received breakthrough device designation from the FDA for its Elecsys neurofilament light chain test. The test is intended for detecting disease activity in adults, aged 18-55 years, with relapsing-remitting or secondary progressive multiple sclerosis.

Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free

Your download email will arrive shortly

We are confident about the
quality of our Company Profiles. However, we want you to make the most
decision for your business, so we offer a free sample that you can download by
submitting the below form

By GlobalData

Source link