QIAGEN participates in Grand Challenge Dx initiative
QIAGEN N.V. (NASDAQ: QGEN) says that it has joined the Point-of-Care Diagnostics (POC Dx) Initiative, led by the Bill & Melinda Gates Foundation and Grand Challenges Canada. The POC Dx Initiative is a research and development program with the goal of creating new diagnostic platforms that enable high-quality, low-cost diagnosis of disease, and also facilitate sustainable markets for diagnostic products, a key challenge in the developing world. The first phase of the Initiative is focused on developing new technologies and identifying implementation issues to address the key barriers for clinical diagnostics in the developing world.
QIAGEN reports that it has already started the development of a portable instrument based on its advanced molecular testing technologies for Point of Need applications. The company joins more than 20 nonprofit, academic and corporate organizations in the POC Dx Initiative, which aims to catalyze a “diagnostics revolution” for the developing world.
QIAGEN’s role will be to develop an easy-to-use, portable molecular testing device that can perform diagnostic tests in the field, far from hospital or laboratory infrastructure. This task also encompasses the creation of a corresponding assay technology suited for use in low-resource settings.
Biomedical Diagnostics changes its name
Paris-based Biomedical Diagnostics reports that it has changed its name to Theradiag to reflect its business activities in theranostics and diagnostics. Theradiag will be focusing its development strategy on theranostic tests to monitor biotherapies. In 2011, the company received a CE mark and marketed a new product line called Lisa Tracker, which improves monitoring for patients receiving anti-TNF treatment.
Provista Diagnostics opens new lab
Provista Diagnostics says that it has opened a remodeled facility in Scottsdale, Arizona that will house their Provista Dx Reference Laboratory, a CLIA accredited laboratory that is also GLP compliant. Provista develops and commercializes proprietary blood-based diagnostic tests for early oncology-related disease state recognition and detection purposes.
Hologic in acquisition mode again
Hologic, Inc. (Nasdaq: HOLX), supplier of diagnostic products, medical imaging systems, and surgical products targeting women’s’ health, is no stranger to M&A deals. Five years ago it paid over $6 billion to acquire Cytyc Corporation. Fast forward to today, and several additional acquisitions later, the company revealed that it is paying $3.7 billion cash to bring molecular diagnostics products and services company Gen-Probe into its fold. The transaction is expected to be completed in the second half of calendar 2012.
Hologic says that it expects the transaction to accelerate top and bottom line growth rates.
-Peter Winter