WALTHAM, Mass., Jan. 19, 2021 /PRNewswire/ -- Thermo Fisher
Scientific Inc. (NYSE: TMO), the world leader in serving science,
today announced it has entered into a definitive agreement to
acquire Mesa Biotech, Inc., a privately held molecular diagnostic
company, for approximately $450
million in cash. Under the terms of the agreement,
Thermo Fisher will pay up to an
additional $100 million in cash upon
the completion of certain milestones following the close of the
transaction.
Mesa Biotech has developed and commercialized a PCR-based rapid
point-of-care testing platform available for detecting infectious
diseases including SARS-CoV-2, Influenza A and B, respiratory
syncytial virus (RSV) and Strep A. Mesa Biotech's patented
technology expands the availability of gold standard nucleic acid
PCR amplification to point-of-care diagnostics. The company is
based in San Diego, California and
has approximately 500 employees and revenues in 2020 of
approximately $45 million.
Mesa Biotech's Accula™ Flu A/Flu B, RSV and Strep A tests
have obtained 510(k) clearance and Clinical Laboratory Improvements
Amendments (CLIA) waivers from the U.S. Food and Drug
Administration (FDA). Additionally, the Accula System has received
Emergency Use Authorization (EUA) from the FDA for SARS-CoV-2 in
vitro diagnostic testing and is now available for use in patient
care settings, providing results within 30 minutes, with higher
accuracy than other rapid tests on the market.
"Mesa Biotech's innovative platform will enable us to accelerate
the availability of reliable and accurate advanced molecular
diagnostics at the point of care. Since the start of the
pandemic, Thermo Fisher has acted
quickly to provide support to the scientists and healthcare
professionals at the frontlines of combating COVID-19," said
Mark Stevenson, executive vice
president and chief operating officer of Thermo Fisher Scientific.
"The addition of Mesa Biotech's easy-to-use, rapid PCR-based test
is highly complementary to our existing offering and will further
help us meet the continuing demand for COVID-related testing while
we work to rapidly scale and develop point-of care tests for other
infectious diseases in the future."
Ingo Chakravarty, president and
chief executive officer of Mesa Biotech said, "I am extremely proud
of the remarkable accomplishments Mesa Biotech has achieved to date
and excited about the prospects of becoming a part of Thermo Fisher. Mesa's innovative rapid PCR
platform technology, combining PCR accuracy with mobility and test
results in 30 minutes, has already played a meaningful role in the
collective efforts combating the pandemic. Thermo Fisher's scale, innovation and global
reach will allow us to more significantly amplify the impact our
technology will have on human health, during the pandemic, and far
beyond."
The transaction is expected to be completed in the first quarter
of 2021, subject to customary closing conditions, including
regulatory approval. Upon completion, the business will become part
of Thermo Fisher's Life Sciences Solutions Segment.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving
science, with annual revenue exceeding $25
billion. Our Mission is to enable our customers to make the
world healthier, cleaner and safer. Whether our customers are
accelerating life sciences research, solving complex analytical
challenges, improving patient diagnostics and therapies or
increasing productivity in their laboratories, we are here to
support them. Our global team of more than 75,000 colleagues
delivers an unrivaled combination of innovative technologies,
purchasing convenience and pharmaceutical services through our
industry-leading brands, including Thermo Scientific, Applied
Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and
Patheon. For more information, please visit
www.thermofisher.com.
Forward-Looking Statements
This communication contains forward-looking statements that
involve a number of risks and uncertainties, including statements
about the timing of completion of the transaction. Important
factors that could cause actual results to differ materially from
those indicated by such forward-looking statements include risks
and uncertainties relating to the proposed transaction not being
timely completed, if completed at all; regulatory approval required
for the transaction not being timely obtained, if obtained at all,
or being obtained subject to conditions; and the additional factors
set forth in Thermo Fisher's most
recent annual report on Form 10-K and subsequent quarterly reports
on Form 10-Q, which are on file with the Securities and Exchange
Commission and available in the "Investors" section of its Website
under the heading "SEC Filings." While Thermo Fisher may elect to update
forward-looking statements at some point in the future,
Thermo Fisher specifically disclaims
any obligation to do so, even if Thermo
Fisher's estimates change and, therefore, you should not
rely on these forward-looking statements as representing
Thermo Fisher's views as of any date
subsequent to the date of this communication.
Media Contact Information:
Thermo Fisher
Ron O'Brien
Phone: 781-622-1242
E-mail: ron.obrien@thermofisher.com
Investor Contact Information:
Thermo Fisher
Ken Apicerno
Phone: 781-622-1294
E-mail: ken.apicerno@thermofisher.com
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SOURCE Thermo Fisher Scientific