USA – Hologic, a medical technology company, has completed the US$230 million acquisition of Biotheranostics, a commercial-stage molecular diagnostics company based in the United States.
Biotheranostics, based in San Diego, California, creates diagnostic, prognostic, and predictive tests for cancer patients.
Breast Cancer Index (BCI) and CancerTYPE ID (CTID) are two molecular diagnostic tests offered by the company for breast and metastatic cancers.
The CTID test is said to provide a molecular diagnosis for patients with unknown or uncertain cancers.
The test assists physicians in designing personalized treatment plans for patients with unknown primary cancer and cases with diagnostic ambiguity by comparing genomic tumor information to a reference database to find the closest match.
The BCI and CTID tests, according to the company, are laboratory developed tests that do not require approval from the US Food and Drug Administration.
Biotheranostics’ tests are PCR-based gene expression tests that have been validated in large studies in areas of oncology with unmet needs and high growth potential, Hologic said.
The acquisition aims to jump-start the company’s entry into additional areas in oncology alongside its previous efforts in cancer and women’s health, said Kevin Thornal, president of Hologic’s diagnostics division.
Hologic’s second transaction of the week comes on the heels of its US$64 million acquisition of Somatex, which manufactures devices used to guide breast biopsies and mark tumor tissue that transaction has already closed.
Somatex focuses on the development of single-use medical devices to facilitate diagnoses and therapies. It was earlier owned by E-Med Solutions.
However, the two expenditures combined only make a minor dent in Hologic’s windfall from COVID-19 testing, which resulted in US$1.3 billion in sales for a single quarter late last year.
Hologic partners WTA in landmark sponsorship deal.
Since then, Hologic executives have stated that the company has a full slate of acquisition targets across all divisions, but that they intend to remain disciplined until the right quarry comes along.
Recently, Hologic entered into a multi-year collaboration with Google Cloud to advance next-generation digital diagnostic capabilities.
Meanwhile, Hologic Inc., a women’s health technology company, has signed a multiyear sponsorship agreement with the Women’s Tennis Association (WTA), the largest in the organization’s history.
The multi-year partnership, is Hologic’s first worldwide sponsorship, and aims to make significant progress by promoting greater wellness and equality for women.
The ground-breaking collaboration enables both organizations to unite around their common goal of championing women while modernizing their respective industries of healthcare and sports.
Liked this article? Sign up to receive our regular email newsletters, focused on Africa and World’s healthcare industry, directly into your inbox. SUBSCRIBE HERE
