Biotheranostics provides PCR-based gene expression tests, which have been validated in large studies in areas of oncology
Medical technology company Hologic has agreed to acquire US-based commercial-stage molecular diagnostics company Biotheranostics for around $230m.
Based in San Diego of California, Biotheranostics is engaged in the development and distribution of diagnostic, prognostic and predictive tests to help treat cancer patients. The company offers molecular diagnostic tests for breast and metastatic cancers.
Biotheranostics offers two polymerase chain reaction (PCR) based gene expression tests, which have been validated in large studies in areas of oncology.
Hologic stated that the BCI test is included in various clinical practice guidelines for breast cancer and both tests have widespread reimbursement in the US.
Biotheranostics offers testing services via CLIA-certified laboratory
Biotheranostics provides testing services through its Clinical Laboratory Improvement Amendments (CLIA) certified and CAP-accredited laboratory, which is directly licenced and authorised to conduct testing in all 50 states in the US.
Hologic diagnostics division president Kevin Thornal said: “Acquiring Biotheranostics enables us to jump-start our entry into a large, fast-growing oncology adjacency that fits perfectly with our broader corporate focus and passion for women’s health.
“Together with the Biotheranostics team, we can leverage our commercial capabilities and expertise in molecular diagnostics automation to accelerate growth, help physicians make more informed decisions, and deliver more personalized treatment and better clinical outcomes for more women.”
Subject to antitrust clearance and other customary closing conditions, the deal is expected to be completed in February this year.
Separately, Hologic has completed the acquisition of Germany-based Somatex Medical Technologies for around $64m.
Somatex, which was earlier owned by E-Med Solutions, focuses on the development of single-use medical devices to facilitate diagnoses and therapies.