Eurobio Scientific has finalised the purchase of a 100% stake in Genome Diagnostics BV (GenDx) in a deal valued at $132.3m (€135m).
The transaction was funded by the group’s cash and part of an $88.2m (€90m) loan from the company’s bank syndicate with LCL, BNP, Credit Agricole Ile de France, BRED and CIC.
GenDx specialises in molecular transplant diagnostics, developing and offering a complete line of reagents and services as well as analysis software.
It develops and markets reagents to perform human leukocyte antigen (HLA) typing by sequencing along with software to analyse the sequencing results, which can be personalised for different sequencing methods and platforms.
The company also offers training modules to enable its customers to adopt its solution.
Eurobio Scientific stated that the deal will allow it to complete its commercial portfolio for evaluating the compatibility between donors and recipients regarding organ and marrow transplants.
It will also strengthen Eurobio Scientific’s geographical footprint, primarily in Europe and the US.
Eurobio Scientific deputy managing director, co-CEO and EurobioNext chairman Denis Fortier said: “This operation is transformative for Eurobio Scientific and is fully in line with the development strategy that we have been successfully pursuing for several years and which is based on a direct presence in Europe and an increase in the share of proprietary products.
“The strong complementarity between our two groups should make it possible to increase the advance of our group both technologically, geographically and commercially.”
With significant know-how in HLA and next-generation sequencing (NGS), the company noted that the acquisition strongly complements its transplantation activities as well as its research and development.
Through algorithms and software, GenDx’s technological advance will also help progress the digitisation of diagnostics.