Luminex, which develops biological testing technologies with applications throughout the diagnostic and life sciences industries, has agreed to acquire privately-held EraGen Biosciences for $34m.
With the transaction Luminex is expected to get access to EraGen’s portfolio of molecular diagnostic assays based on its proprietary technology platform MultiCode.
EraGen’s in-market and pipeline products are for DNA- and RNA-based testing for the early detection of infectious diseases and genetic-based conditions.
The acquisition will also expand Luminex’ product offering to its existing customer base, open new market opportunities and speed up future product development.
Luminex CEO and president Patrick Balthrop said the transaction builds on the strategic investments they have made and provides additional resources for sales, support, and assay development, strengthening position and expanding footprint within the molecular diagnostic market.
EraGen Biosciences president and CEO Irene Hrusovsky said the company will realize significant business and technology synergies as Luminex brings the global reach and scale required to effectively leverage the enormous potential of EraGen’s franchise in molecular diagnostics."