Bio-Rad scquires curiosity diagnostics

Bio-Rad Laboratories, a global leader in life science research and clinical diagnostic products, announced that it has reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A. (WSE NewConnect: SCP), a Warsaw, Poland, based developer of innovative technology solutions for the medical diagnostic and healthcare markets, for a total consideration of up to $170 million, consisting of approximately $100 million in cash, and up to $70 million in future milestone payments.

Curiosity Diagnostics, a late-stage, pre-commercial platform company, is in the process of developing a sample-to-answer, rapid diagnostics PCR system for the molecular diagnostics market.

“We are excited to have the Curiosity Diagnostics team join Bio-Rad’s Clinical Diagnostics and to work closely together to bring a new generation of rapid PCR systems to market,” said Dara Wright, Bio-Rad’s EVP and President, Clinical Diagnostics. “Curiosity’s PCR platform, PCR|ONE, offers a streamlined workflow and rapid turnaround times, and is expected to extend our reach beyond high-complexity labs into near-patient molecular diagnostics labs.”

Scope Fluidics President and co-founder, Professor Piotr Garstecki, added, “Our passion at Scope Fluidics is developing innovative technologies addressing the greatest challenges in global health. The dedicated, entrepreneurial team of highly skilled, specialized personnel of Curiosity Diagnostics is looking forward to further developing the PCR|ONE technology under Bio-Rad’s leadership while we at Scope Fluidics continue to pursue new and current projects in disruptive medical diagnostics.”