CAP TODAY Pathology/Laboratory Medicine/Laboratory Management
July 2, 2018—Bio-Techne Corp. will acquire Exosome Diagnostics for $250 million in cash plus contingent consideration of up to $325 million due upon the achievement of certain future milestones. The deal is expected to close by early August.
The purchase includes ExoDx Prostate(IntelliScore), a urine-based test to assist physicians in determining the need for a prostate biopsy in patients with an ambiguous PSA test result. Exosome Dx has approximately 200 filed patents and applications to protect the technology and enable the development of novel, highly sensitive diagnostics in various pathologies with either difficult or no current diagnostic solutions, such as prostate, bladder, kidney, breast, and glioblastoma.
“The noninvasive nature of this technology creates a new process for liquid biopsies and is likely to transform medical practice,” Charles R. Kummeth, president and CEO of Bio-Techne, said in a press release.