Based in Northern Ireland, Torax operates under ISO 9001 and ISO-13485 accredited quality systems for IVD product design, development, manufacture, and commercialisation
EDX acquires IVD products developer Torax. (Credit: Louis Reed on Unsplash)
EDX Medical has completed the previously announced acquisition of Torax Biosciences, a research company that develops immune assays and diagnostic testing solutions.
Based in Northern Ireland, Torax operates under ISO 9001 and ISO-13485 accredited quality systems for IVD product design, development, manufacture, and commercialisation.
Its expertise and facilities are said to complement the laboratory PCR and genomic sequencing tests developed by EDX.
With the acquisition, Torax will become a wholly-owned subsidiary of EDX and add an experienced point-of-care diagnostics team and new product development.
The company will also bring additional UK laboratory capacity in Northern Ireland to support EDX’s established laboratories in Cambridge.
Torax founder and diagnostic and immuno-chemistry expert Lawrence McGrath will be appointed as EDX senior development scientist and will lead Torax as a director.
Torax CEO Lawrence McGrath said: “We have a great deal of knowledge in terms of product design and innovation and we are now able to move our company to a new level as part of the EDX Medical Group.
“This is an important step for us and we look forward to contributing further to this exciting clinical sector.”
EDX is a healthcare company that develops advanced digital diagnostic products and services for cancer, heart disease, neurology, and infectious disease testing.
Last year, the company announced a collaborative cancer biomarker programme for improving access to cost-effective tests for a range of cancers in the UK and Europe.
The programme is part of its partnership with Tianjin Bioscience Diagnostic Technology, a research-based manufacturer of diagnostic products and reagents.
Tianjin Bioscience selected EDX as its lead partner to validate and commercialise its suite of cancer biomarkers in Europe.
EDX Medical founder professor Sir Chris Evans said: “We are delighted to announce this strategic acquisition of Torax at an exceptionally good value. It will add further strength and depth to EDX’s innovation and product development capabilities.
“This enables us to provide an even wider range of testing solutions and data analysis. The Torax knowledge and capabilities in immunochemistry will accelerate our development of robust and innovative tests for cancer and other significant diseases.”