Roche acquires IQuum to strengthen offerings in molecular diagnostics
Posted: 7 April 2014 | Roche | No comments yet
IQuum’s unique products will allow Roche to quickly enter the point of care segment of molecular diagnostics…
Roche (SIX: RO, ROG; OTCQX: RHHBY) announced the acquisition of IQuum, Inc. (IQuum) based in Marlborough, Massachusetts, USA. IQuum is a privately held company focused on developing point of care offerings for the molecular diagnostics market. Under the terms of the agreement, Roche will pay IQuum shareholders USD 275 million upfront and up to USD 175 million in contingent product related milestones. The transaction is subject to customary closing conditions.
The acquisition will provide Roche with access to IQuum’s Laboratory-in-a-tube (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 reliable and accurate lab-like results and are CE marked and FDA cleared.
“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,” said Roland Diggelmann, COO of Roche Diagnostics. “We welcome IQuum’s employees, who will continue to focus on the development and manufacturing of the Liat™ Analyzer and assays.”
“We are very excited to continue developing innovative molecular diagnostics solutions as part of the Roche Molecular Diagnostics team,” said Shuqi Chen, Ph.D., CEO and founder of IQuum. “Roche is the ideal company to deliver on the promise of our point of care molecular diagnostics technology. We are fully committed to the continued success of IQuum’s employees, products and pipeline.”
Once the transaction is complete, IQuum will be integrated into Roche Molecular Diagnostics.