LabCorp is diversifying. The big diagnostics player has swooped in to buy the contract research organization Covance for $6.1 billion in cash and stock, confident that a combination of its expertise with Covance's approach to contract drug development will make for a successful merger.
Veterinary medicine researchers at Kansas State University and scientists at Lawrence Livermore National Laboratory have teamed to advance the development of diagnostic tools used to detect infectious diseases, including porcine-related afflictions.
For the medical diagnostics industry, 2014 is looking like a seesaw in terms of venture investment trends.
Corgenix, in the news recently for its Ebola virus test, will sell itself to a competitor based in Germany for about $16 million. The news comes 5 months after the Denver company revealed it might seek to become an M&A target, in part, to reduce costs and boost efficiency and market reach.
AbbVie's waiting for FDA approval on a hepatitis C combo therapy. OraSure makes a rapid test to detect the virus. And professional truck drivers in the U.S. are more than 5 times as likely as other Americans to have it.
Seventh Sense Biosystems has been quiet these last several months. But now the maker of painless blood collection and diagnostic tech is making some noise, having scored a healthy new round of venture financing.
This summer, venture investment trends have given the medical diagnostics industry reason for at least a little optimism.
Roche's Ventana Medical Systems is linking up with Arizona State University to launch a diagnostics-focused master's degree professional program at the school.
Cambridge, U.K.-based Lab21, which focuses on personalized medicine and clinical diagnostics, plans to become a subsidiary of Paris-based Novacyt, which makes cytology diagnostic tests and tools for various cancers.
FDA officials approved the Georgia company's gene-based test to determine red blood cell types during transfusions.