Speaking about the transaction, Prof. David Denning of the University Hospital of South Manchester, founder and chief medical officer of Myconostica, says, "We have developed fast and sensitive molecular diagnostics for life-threatening fungal infections such as Aspergillosis and Pneumocystis pneumonia that will transform patient care for these infections. Fungal infections are frequently under-diagnosed using current diagnostic methods and are much more common than realized. The global reach of Lab21's operations will extend the availability of Myconostica's products to many more clinicians. I look forward to working with Lab21 to further develop the evidence base demonstrating the great clinical value of molecular testing for fungi, as is routine for viruses."

 

---

Lab21 focuses on diagnostic tests with Microgen Bioproducts acquisition

 

CAMBRIDGE, U.K.—Lab21 Ltd. last month also announced the acquisition of Microgen Bioproducts Ltd., a U.K.-based company specializing in the development, manufacture and sale of diagnostic tests to identify diseases and organisms that pose a threat to health.

 

Financial terms of the acquisition were not disclosed. Lab21 said Microgen's expertise in microbiological assay development and commercialization complements its diagnostics portfolio, particularly in the infectious disease market, and provides further expansion of its distribution channel in key territories such as the United States, United Kingdom, Europe and Asia.

 

"Microgen Bioproducts is a well-established and profitable business which will significantly contribute to our growth plans in our core products division," said Graham Mullis, CEO of Lab21, in a statement. "This acquisition highlights Lab21's commitment to continuing its exciting roll-up strategy and we expect to bring other high-quality acquisitions into the group during 2011."