WALTHAM, Mass. & ERLANGEN, Germany—Thermo Fisher Scientific Inc. stated today that the company has completed the acquisition of Mesa Biotech, Inc., a privately held point-of-care molecular diagnostic company. The acquisition, which was originally announced in January, included Thermo Fisher paying $450 million in cash, as well as up to $100 million in cash upon the completion of certain milestones.
“Mesa Biotech is an important part of our strategy to expand the benefits of molecular diagnostics at the point of care, starting with COVID-19 testing,” stated Mark Stevenson, executive vice president and chief operating officer of Thermo Fisher. “By combining Thermo Fisher’s operational excellence, access to raw materials and existing distribution and sales channels with Mesa’s innovative platform, we can rapidly scale manufacturing volume, drive cost efficiencies and bring much-needed diagnostics to market faster and at greater scale.”
Mesa Biotech has developed and commercialized the Accula System, a PCR-based rapid point-of-care testing platform available for infectious disease diagnosis. Besides SARS-CoV-2 testing, the platform includes tests for Influenza A and B, respiratory syncytial virus (RSV), and Strep A.
Mesa Biotech’s patented technology expands the availability of gold standard nucleic acid PCR amplification to point-of-care diagnostics. The platform enables rapid, highly accurate testing at physician offices, pharmacies and other settings, and provides results in 30 minutes. Mesa Biotech is based in San Diego. The company has approximately 500 employees, and reported revenues of approximately $45 million in 2020.
“The Accula System complements our existing offerings and immediately provides our clinical customers with more options and flexibility for COVID-19 testing. And, as the point-of-care diagnostic market expands globally, we’re well-positioned to deliver a broader menu of tests to meet increasing demand,” Stevenson added.
Mesa Biotech’s Accula Flu A/Flu B, RSV, and Strep A tests have obtained 510(k) clearance and Clinical Laboratory Improvements Amendments waivers from the FDA. The Accula System has also received Emergency Use Authorization for SARS-CoV-2 in vitro diagnostic testing.
“I am extremely proud of the remarkable accomplishments Mesa Biotech has achieved to date, and excited about the prospects of becoming a part of Thermo Fisher. Mesa’s innovative rapid PCR platform technology, combining PCR accuracy with mobility and test results in 30 minutes, has already played a meaningful role in the collective efforts combating the pandemic,” noted Ingo Chakravarty, president and CEO of Mesa Biotech, in a press release. “Thermo Fisher’s scale, innovation and global reach will allow us to more significantly amplify the impact our technology will have on human health, during the pandemic, and far beyond.”
Mesa Biotech will become part of the Life Sciences Solution Segment of Thermo Fisher, and is expected to add revenue of approximately $200 million in 2021.