HU Group’s wholly-owned subsidiary Fujirebio has announced the acquisition of assays developer ADx NeuroSciences in a deal valued at $42.12m (€40m).

Founded in 2011, ADx NeuroSciences specialises in developing neurodegenerative biomarkers, tailor-made antibodies, and assays for in vitro diagnostics (IVD) and pharmaceutical companies.

The transaction, which is subject to the satisfaction of certain customary closing conditions, is anticipated to be concluded next month.

Upon completion of the deal, ADx NeuroSciences will become a wholly-owned subsidiary of Fujirebio Europe.

ADx NeuroSciences will continue to serve its existing partners and customers while expanding its portfolio of advanced biomarkers and antibodies that help in detecting neurodegenerative diseases, such as Parkinson’s and Alzheimer’s.

Fujirebio is engaged in developing, producing and commercialising robust IVD testing products across the world.

Through this transaction, the company will combine its expertise in high-quality IVD as well as its strategic CDMO partnerships with ADx NeuroSciences’ experience and biomarker portfolio to bring earlier neurodegenerative disease diagnostic solutions to the global diagnostics market.

Fujirebio stated that the deal will also add further experience, expertise and resources to the Fujirebio Neuro Center of Excellence.

Fujirebio president and CEO Goki Ishikawa said: “By welcoming ADx NeuroSciences in the Fujirebio group of companies, Fujirebio will be able to expand its antibody supply business and contract development and manufacturing (CDMO) offerings in the neurodegenerative field to our partners globally.

“Fujirebio is committed to invest in developing diagnostic kits in the field of neurodegenerative diseases, such as Alzheimer’s disease and Parkinson’s disease.”

In March, Fujirebio launched the Lumipulse G pTau 181 Plasma assay for fully automated blood-based Alzheimer’s disease biomarker testing.