Bio-Techne, which makes proteins for biomedical and clinical researchers, will acquire Advanced Cell Diagnostics for $250 million in cash, with a potential $75 million in milestones. The move marks Bio-Techne’s ($TECH) entry into genomics.
“ACD's technology serves both research and diagnostic markets, expanding Bio-Techne's presence in the clinical lab setting,” said Bio-Techne CEO Charles Kummeth, in a statement. “With broader adoption of the technology in the diagnostic arena, it has the potential to revolutionize the choice of reagents in diagnostic practices, such as oncology, infectious diseases and others.”
Advanced Cell Diagnostics markets products based on its RNAscope technology, which is an RNA in-situ hybridization platform. It allows the detection of single RNA molecules in single cells. Information at this level is “far more informative,” than the analysis of many cells achieved in traditional methods, Bio-Techne said.
In addition to its product offerings--which include control slides and probes for RNAscope, software and kits and reagents for manual and automated assays--Advanced Cell Diagnostics is working on diagnostic tests for cancer management.
Based in Newark, CA, ACD has more than 100 employees and offices in Italy, China and Japan. It reeled in $25 million in sales for the last year. The deal is expected to close around August 1 and to be dilutive to Bio-Techne’s earnings for fiscal year 2017, after which it will be accretive to earnings, according to the statement.
- read the statement
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