Netherlands-based molecular testing firm Qiagen has signed an agreement to acquire all shares of Spanish diagnostics maker STAT-Dx for a cash consideration of around $147m.
Under the terms of the agreement, STAT-Dx is eligible for an additional $44m of regulatory and commercial milestone payments from Qiagen.
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Through this deal, Qiagen will obtain ownership of STAT-Dx’s system designed for fully integrated molecular analysis for oncology and to diagnose common disorders such as serious respiratory or gastrointestinal infections.
Based on real-time polymerase chain reaction (PCR) and the firm’s DiagCORE technologies, the system can be used to simultaneously carry out sample-to-insight processing of up to 48 molecular targets.
The system delivers both qualitative and quantitative insights into the accurate cause of a syndrome within approximately one hour.
It uses single-use cartridges that feature Qiagen’s sample and assay technologies developed as part of an alliance between the firms.
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By GlobalDataThe system can run any type of clinical sample such as pathological tissue samples, liquid samples, or sputum samples in infectious disease, and facilitates direct on-board swab processing.
Qiagen CEO Peer Schatz said: “The system is designed for significantly more cost-efficient test processing as required by the current reimbursement environment.
“Additional application areas for this system include companion diagnostics, quantitative analysis and immunoassay tests, offering customers a new level of flexibility and accurate diagnosis designed to support better outcomes for patients and healthcare systems.”
The system, which obtained CE-IVD marking this month, will be branded as QIAstat-Dx following the closure of the acquisition in the second quarter of 2018.
Qiagen expects the system to generate around $7m this year and a minimum of $30m next year.
