Roche buys IQuum in $450 million deal
pharmafile | April 8, 2014 | News story | Research and Development, Sales and Marketing | Diagnostics, IQuum, Roche
Roche has bought IQuum in a deal which could be worth $450 million to the privately-held US firm.
IQuum, based in Marlborough, Massachusetts, specialises in point of care offerings for the molecular diagnostics market and will be absorbed into Roche’s own Molecular Diagnostics unit when the transaction goes through.
The Swiss manufacturer is paying $275 million up front for the company and its portfolio, and is in line to pay IQuum shareholders another $175 million in milestones related to the products’ performance.
Chief among these is IQuum’s Laboratory-in-a-tube (Liat) system, which is designed to allow rapid molecular diagnostic testing at the bedside, with minimal training for health professionals required.
The Liat Analyzer and Liat Influenza A/B Assay, which is the first test available for use on the system, produce “reliable and accurate lab-like results”, Roche says.
Diagnostics is an important area for Roche, and sales in this division rose 4% to CHF10.5 billion in 2013, with the company introducing a range of new instruments and tests, including the cobas 8100 and a new HPV test.
“With IQuum, we further strengthen our molecular diagnostics offerings with cutting-edge technology and products that serve the point of care segment,” explained Roland Diggelmann, chief operating officer of Roche Diagnostics.
“Patients will benefit from on-the-spot and accurate diagnoses, which will allow healthcare professionals to make rapid, informed treatment decisions in flexible settings,” he added.
IQuum’s employees will transfer to Roche.
“We are very excited to continue developing innovative molecular diagnostics solutions as part of the Roche Molecular Diagnostics team,” said Shuqi Chen, founder of IQuum.
“Roche is the ideal company to deliver on the promise of our point of care molecular diagnostics technology. We are fully committed to the continued success of IQuum’s employees, products and pipeline,” Chen added.
Chen and Keith Greenfield founded the company in 1998, and have focused their efforts on the clinical diagnostics, bio-defence and industrial testing markets.
Adam Hill
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