To continue reading this article, subscribe for FREE to
Subscribe today to keep up to date with the latest advancements and discoveries in drug development achieved by scientists in pharma, biotech, non-profit, academic, clinical, and government labs.
Add Drug Discovery News as a preferred Google source to see more of our trusted coverage.
AUSTIN, Texas—Privately held GenturaDx of Hayward,Calif., seeks to make nucleic acid testing more affordable and practical forlaboratories, while Luminex Corp. wants to expand its presence in the diagnosticand testing markets. This all comes together this month in the form of acash deal worth $50 million, under which Luminex has agreed to acquire GenturaDx.
GenturaDx is developing a polymerase chainreaction (PCR) system to enable rapid and accurate diagnosis with minimalsample volume, a technology for which Luminex expects to see commercialavailability of assays by early 2014—the company also aims to integrate the PCRsystem with its MultiCode-RTx chemistry to increase its status and share in themolecular diagnostic testing market.
"This acquisition accelerates the developmentof integrated sample processing capabilities for our technology, and alignswith our mission to reduce healthcare costs and improve clinical outcomes byproviding innovative and affordable solutions to today's clinicallaboratories," said Luminex CEO Patrick J. Balthrop. "The acquisition ofGenturaDX builds on our strategic investments to date and positions the companyto deliver ongoing growth by increasing our product portfolio, expanding ourmarket opportunities and leveraging our leadership position."
Luminex expects the acquisition will add about $6million in operating expenses this year, excluding acquisition-relatedexpenses. Additional payments beyond the $50 million up front may be made aswell, if GenturaDx meets future milestones or achieves product revenue targets.
Analytical performance begins long before a sample reaches the instrument, making sample preparation one of the most important determinants of data quality.
Discover practical strategies to improve pipetting accuracy, reproducibility, ergonomics, and instrument performance across diverse laboratory workflows.
This person does not yet have a bio.View Full Profile
