QIAGEN fully acquires NeuMoDx Molecular
QIAGEN acquires remaining 80.1% stake in NeuMoDx Molecular, Inc. for $248 million
QIAGEN N.V. announced the acquisition of the remaining 80.1% of diagnostics instruments company NeuMoDx Molecular, Inc. for $248 million in cash. The move rounds out QIAGEN’s portfolio of automated molecular testing solutions based on the proven PCR technology.
QIAGEN's headquarters in Venlo, The Netherlands.
QIAGEN
The transaction was completed after QIAGEN received U.S. regulatory clearance for the full acquisition. In 2018, QIAGEN had purchased a 19.9% stake in NeuMoDx along with the right to acquire the remaining NeuMoDx stake at a price of $234 million. The final payment price for this remaining stake includes customary purchase price adjustments for cash, indebtedness and transaction costs. Also as part of the 2018 agreement, QIAGEN has distributed the high-throughput NeuMoDx™ 288 and the medium-throughput NeuMoDx™ 96 platforms in Europe and other markets outside the U.S.
“NeuMoDx’s automated molecular testing platforms offer a unique combination of speed, flexibility, throughput and ease of use for molecular diagnostics assays, including laboratory-developed tests,” said Thierry Bernard, Chief Executive Officer of QIAGEN. “NeuMoDx has built an unparalleled platform that has demonstrated superior value during the coronavirus pandemic. This will expand QIAGEN’s portfolio of automated testing solutions and provide another driver for future growth.”
“NeuMoDx devices offer labs with medium to high throughput exactly what they need,” Bernard added. “Labs want compact systems with true random access, fast turnaround time, full automation and comprehensive menus. The full integration of the NeuMoDx systems will allow QIAGEN to address laboratory needs in almost any setting for molecular diagnostics. We are excited to be able to build on NeuMoDx’s success and will jointly work on expanding our product portfolio and global distribution.”
“Becoming a part of QIAGEN allows us to take our successes at NeuMoDx to the next level,” said Jeff Williams, Chairman and Chief Executive Officer of NeuMoDx Molecular. “We have built a broad testing portfolio and created strong customer enthusiasm around the world with our device’s unique combination of speed, flexibility, throughput and ease of use. This transaction is a testament to the achievements of the entire NeuMoDx team and we are excited to finally become a full part of the QIAGEN family.”
As rapid, integrated PCR-based devices, NeuMoDx™ 288 and NeuMoDx™ 96 already offer 13 CE-IVD-marked assays for different infectious diseases in Europe. These include a dedicated COVID-19 test, which has also received FDA Emergency Use Authorization for the U.S. market, complementing the FDA-approved GBS assay (group B Streptococcus). A new multiplex test for influenza, respiratory syncytial virus (RSV) and the SARS-CoV-2 virus is scheduled for launch in the fourth quarter of 2020.
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Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.
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Topic World PCR
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