Date: 2016-10-12
Type of information: Company acquisition
Acquired company: Immunetics (USA - MA)
Acquiring company: Oxford Immunotec (UK)
Amount: up to $ 12 million
Terms: * On October 12, 2016, Oxford Immunotec, a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of under-served immune-regulated conditions, announced it has closed a transaction to acquire Immunetics, a Massachusetts-based diagnostics company focused on developing specialized tests for infectious diseases, such as Lyme disease. Total consideration is comprised of $6 million in cash and up to an additional $6 million in cash payable on the achievement of certain revenue thresholds and pipeline related milestones over the next three years.
Details: Oxford Immunotec is a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of under-served immune-regulated conditions. Its first product is the T-SPOT®.TB test, which is used to test for tuberculosis infection. The T-SPOT.TB test has been approved for sale in over 50 countries, including the United States, where it has received pre-market approval from the FDA, Europe, where it has obtained a CE mark, as well as Japan and China. The company's second product line is a range of assays for tick-borne diseases, such as Lyme disease, obtained through the acquisition of Imugen. The T-SPOT.CMV test and the T-SPOT.PRT test are part of the Company's third product line focused on the transplantation market. In addition to these three product lines, the Company has additional active development programs in other immune-regulated conditions. The Company is headquartered near Oxford. and in Marlborough. Immunetics' business fits well with Oxford Immunotec strategy to focus on proprietary tests for under-served immune-regulated conditions. Immunetics has a long pedigree of designing novel proprietary assays for under-served infectious diseases. Its C6 ELISA Lyme test complements the recently acquired Imugen product offering, augmenting Oxford Immunotec product portfolio in the tick-borne disease market.
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