Roche signs definitive share purchase agreement with TIB Molbiol
Roche to acquire the TIB Molbiol group with the expectation to close in fourth quarter of 2021 The post Roche signs definitive share purchase agreement with TIB Molbiol appeared first on Express Healthcare.
Roche to acquire the TIB Molbiol group with the expectation to close in fourth quarter of 2021
Roche has announced that it has signed a definitive share purchase agreement to acquire 100% of the outstanding shares of the TIB Molbiol Group. Closing of the transaction is subject to customary conditions and is expected in the fourth quarter of 2021.
The acquisition of the TIB Molbiol Group will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as the identification of SARS-CoV-2 variants.
The two companies have collaborated for more than 20 years to rapidly address critical healthcare needs including biological threats, such as SARS, anthrax, avian influenza virus H5N1, MERS, the novel influenza virus H1N1 swine, Ebola virus, Zika virus and most recently, SARS-CoV-2 virus and its variants. For example, in 2001 with anthrax and 2003 with SARS-CoV1, TIB Molbiol demonstrated their ability to develop PCR assays for the detection of new pathogens within days.
Thomas Schinecker, CEO Roche Diagnostics said, “With this acquisition, we can expand our offering of tests of existing pathogens and our response to emerging pathogens and potential health threats. At the onset of the COVID-19 pandemic, our collaboration provided the first research-use-only SARS-CoV-2 detection test that was provided in January 2020, only days after the new coronavirus was first sequenced. Together, we can further improve patient outcomes with innovative diagnostic solutions that alleviate healthcare costs.”
Olfert Landt, CEO and founder of TIB Molbiol said, “We are very happy to join the Roche Group. We have been collaborating for two decades and have spearheaded innovation in the molecular diagnostics industry as partners. We are looking forward to contributing to the strong network of Roche Diagnostics.”
The post Roche signs definitive share purchase agreement with TIB Molbiol appeared first on Express Healthcare.